Virtu Financial LLC Sells 3,399 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Virtu Financial LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 59.6% during the first quarter, HoldingsChannel.com reports. The fund owned 2,300 shares of the investment management company’s stock after selling 3,399 shares during the quarter. Virtu Financial LLC’s holdings in The Goldman Sachs Group were worth $1,256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $31,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $29,000. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $31,000. Godsey & Gibb Inc. grew its holdings in shares of The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Lowe Wealth Advisors LLC grew 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 purchasing an additional 49 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $721.76 on Monday. The business has a 50-day moving average price of $681.52 and a two-hundred day moving average price of $614.05. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $737.88. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market cap of $218.49 billion, a P/E ratio of 15.90, a PEG ratio of 1.53 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations 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 revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $8.62 earnings per share. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is presently 26.44%.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock worth $14,423,221 in the last quarter. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on GS shares. Wells Fargo & Company raised 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. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an “outperform” rating in a research report on Thursday, July 10th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.