American Century Companies Inc. Acquires 64,471 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

American Century Companies Inc. increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 70.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 156,362 shares of the investment management company's stock after buying an additional 64,471 shares during the quarter. American Century Companies Inc. owned 0.05% of The Goldman Sachs Group worth $85,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. GAMMA Investing LLC boosted its holdings in shares of The Goldman Sachs Group by 63,864.7% in the 1st 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 during the last quarter. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth about $1,766,238,000. Castlekeep Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth about $944,334,000. Nuveen LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth about $897,185,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in The Goldman Sachs Group by 214.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company's stock valued at $741,018,000 after acquiring an additional 882,099 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock valued at $14,423,221 over the last 90 days. Insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research reports. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Citigroup boosted their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Price Performance

GS traded down $1.3930 on Wednesday, reaching $719.9870. The company had a trading volume of 1,871,842 shares, compared to its average volume of 1,823,386. The business has a 50 day simple moving average of $699.27 and a 200 day simple moving average of $618.86. The company has a market cap of $217.95 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.53 and a beta of 1.38. 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 Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $749.05.

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 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 12.37% and a return on equity of 14.32%. The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.62 EPS. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This is a positive change 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 2.2%. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

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.