The Goldman Sachs Group, Inc. (NYSE:GS) CFO Denis P. Coleman Sells 7,463 Shares

Key Points

• The Goldman Sachs Group's CFO, Denis P. Coleman, sold 7,463 shares at an average price of $724.40, resulting in a total sale of approximately $5.4 million, which decreased his stake in the company by 28.64%.
• The firm recently declared a dividend increase from $3.00 to $4.00 per share, with a payment date of September 29th, reflecting a positive change in their financial strategy.
• Goldman Sachs reported $10.91 earnings per share for the last quarter, exceeding expectations and showing a 14.5% revenue growth compared to the same period last year.

The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report) CFO Denis P. Coleman sold 7,463 shares of the business'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 in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded up $8.32 during mid-day trading on Tuesday, hitting $731.97. 2,135,968 shares of the company's stock traded hands, compared to its average volume of 2,085,554. The company's 50-day moving average is $662.35 and its two-hundred day moving average is $607.95. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The company has a market capitalization of $224.60 billion, a P/E ratio of 16.13, a PEG ratio of 1.54 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $734.13.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm 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 13.84%. The business's revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $8.62 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 2.19%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group in the first quarter worth $25,000. Dogwood Wealth Management LLC increased its stake in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares during the period. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth $29,000. Godsey & Gibb Inc. increased its stake in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Transce3nd LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $31,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports 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. Barclays reduced their price target on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Finally, Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $660.00.

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.