16,087 Shares in The Goldman Sachs Group, Inc. $GS Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 16,087 shares of The Goldman Sachs Group, valued at approximately $8.79 million, during the first quarter.
• Goldman Sachs recently raised its dividend to $4.00 per share, reflecting a 33.3% increase from the previous dividend of $3.00.
• Despite the stock's current price target ranging between $550.00 and $790.00, it has achieved a 52-week high of $757.35 and a low of $439.38.

SCS Capital Management LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,087 shares of the investment management company's stock, valued at approximately $8,788,000.

A number of other large investors have also added to or reduced their stakes in GS. GAMMA Investing LLC grew its position in The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after buying an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $1,766,238,000. Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $897,185,000. Assenagon Asset Management S.A. boosted its holdings in shares of The Goldman Sachs Group by 102.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock valued at $8,065,000 after purchasing an additional 585,084 shares in the last quarter. Finally, Cohen Investment Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock valued at $256,876,000 after purchasing an additional 461,911 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research analyst reports. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. JMP Securities reaffirmed a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their target price 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. Finally, Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Up 0.4%

Shares of GS opened at $741.20 on Tuesday. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $757.35. The stock has a market capitalization of $224.38 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.57 and a beta of 1.41. 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 has a fifty day moving average of $724.28 and a 200-day moving average of $627.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company 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 Goldman Sachs Group'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. As a group, sell-side 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 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend 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 dividend payout ratio is 35.26%.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 in the last quarter. 0.55% of the stock is currently owned by company insiders.

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.

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