The Manufacturers Life Insurance Company Has $589.02 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in The Goldman Sachs Group by 1.0%, selling 10,987 shares, while maintaining ownership of approximately 1,078,215 shares valued at $589 million.
• Goldman Sachs reported robust quarterly earnings, with an EPS of $10.91 surpassing analyst estimates and a revenue of $14.58 billion, an increase of 14.5% year-over-year.
• The company recently announced an increase in its quarterly dividend from $3.00 to $4.00 per share, leading to an annualized payout of $16.00 and a yield of 2.1%.

The Manufacturers Life Insurance Company reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,078,215 shares of the investment management company's stock after selling 10,987 shares during the period. The Manufacturers Life Insurance Company owned 0.35% of The Goldman Sachs Group worth $589,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at $29,000. Godsey & Gibb Inc. grew its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after buying an additional 49 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS traded down $15.32 during trading hours on Tuesday, reaching $729.93. 2,193,787 shares of the company traded hands, compared to its average volume of 2,498,530. 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 stock's fifty day moving average is $718.92 and its 200 day moving average is $624.40. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $753.33. The stock has a market cap of $220.97 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.58 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during 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 company's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $8.62 EPS. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insider Transactions at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer owned 106,268 shares in the company, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GS. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Morgan Stanley raised their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Profile

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.