Bank of New York Mellon Corp Has $1.76 Billion Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Bank of New York Mellon Corp reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,222,427 shares of the investment management company's stock after selling 544,012 shares during the period. Bank of New York Mellon Corp owned 1.03% of The Goldman Sachs Group worth $1,760,380,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GS. GAMMA Investing LLC raised its holdings 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 valued at $2,172,423,000 after buying an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,766,238,000. Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $1,603,315,000. Castlekeep Investment Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $944,334,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of The Goldman Sachs Group by 214.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company's stock worth $741,018,000 after purchasing an additional 882,099 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John B. Hess purchased 3,904 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was bought at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the acquisition, the director directly owned 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Oppenheimer lowered The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Citigroup reduced their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $570.00 to $592.00 and gave the company an "equal weight" rating in a research note on Monday, June 23rd. Finally, JMP Securities cut their price target on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $603.73.

The Goldman Sachs Group Trading Up 1.3%

GS traded up $9.16 during trading on Friday, reaching $725.05. 1,502,041 shares of the company's stock were exchanged, compared to its average volume of 2,399,044. The company's fifty day moving average price is $617.08 and its 200-day moving average price is $592.16. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $726.00. The firm has a market capitalization of $222.47 billion, a PE ratio of 16.83, a P/E/G ratio of 0.99 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The firm had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the previous year, the business earned $11.58 EPS. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is 27.85%.

The Goldman Sachs Group Company 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.