UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 120,272 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• UBS Asset Management has increased its stake in The Goldman Sachs Group by 6.1%, acquiring an additional 120,272 shares to bring its total ownership to over 2 million shares valued at approximately $1.14 billion.
• The Goldman Sachs Group reported a strong quarterly earnings performance with an EPS of $10.91, surpassing analyst expectations, and a revenue of $14.58 billion, marking a 14.5% year-over-year increase.
• The company announced a dividend increase to $4.00 per share, up from a previous $3.00, representing a 2.2% yield based on the current share price.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,084,108 shares of the investment management company's stock after purchasing an additional 120,272 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.68% of The Goldman Sachs Group worth $1,138,527,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares in the last quarter. Northern Trust Corp increased its stake in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after acquiring an additional 40,125 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth $1,766,238,000. Amundi increased its stake in shares of The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock worth $967,193,000 after acquiring an additional 225,993 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth $897,185,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $741.20 on Tuesday. The company has a 50-day simple moving average of $724.28 and a 200-day simple moving average of $627.32. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $224.38 billion, a PE ratio of 16.33, a P/E/G ratio of 1.57 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $757.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $8.62 EPS. Equities research analysts predict 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. Investors of record on Friday, August 29th will be issued a $4.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.2%. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. JMP Securities reiterated a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. HSBC reiterated a "reduce" rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Zacks Research upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target 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.

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