King Luther Capital Management Corp Has $40.10 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• King Luther Capital Management Corp increased its stake in The Goldman Sachs Group by 891.1%, owning a total of 73,404 shares valued at $40.1 million after buying an additional 65,998 shares in the first quarter.
• The company recently declared a quarterly dividend of $4.00, raising it from the previous $3.00, with a dividend yield of approximately 2.2%.
• Goldman Sachs reported $10.91 earnings per share, surpassing analyst estimates by $1.09, and experienced a 14.5% year-over-year increase in revenue for the quarter.

King Luther Capital Management Corp increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 891.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 73,404 shares of the investment management company's stock after purchasing an additional 65,998 shares during the quarter. King Luther Capital Management Corp's holdings in The Goldman Sachs Group were worth $40,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in The Goldman Sachs Group by 15.4% in the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock valued at $594,412,000 after acquiring an additional 138,198 shares in the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $321,000. Blueshift Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after purchasing an additional 652 shares during the period. Adams Diversified Equity Fund Inc. grew its stake in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after purchasing an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $1,643,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 in the last 90 days. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GS. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Finally, Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Trading Up 0.3%

GS traded up $2.13 during mid-day trading on Wednesday, reaching $745.51. The stock had a trading volume of 1,862,509 shares, compared to its average volume of 2,576,734. The stock has a market capitalization of $225.68 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.53 and a beta of 1.38. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The firm's fifty day simple moving average is $686.71 and its two-hundred day simple moving average is $615.52. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $748.91.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.62 EPS. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.