Burney Co. Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Burney Co. raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 23.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,974 shares of the investment management company's stock after buying an additional 1,310 shares during the period. Burney Co.'s holdings in The Goldman Sachs Group were worth $3,810,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of The Goldman Sachs Group by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company's stock worth $3,761,576,000 after purchasing an additional 161,500 shares during the period. GAMMA Investing LLC boosted its holdings in 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 period. FMR LLC boosted its stake in shares of The Goldman Sachs Group by 23.7% in the fourth quarter. FMR LLC now owns 3,586,348 shares of the investment management company's stock worth $2,053,614,000 after acquiring an additional 687,711 shares during the period. Northern Trust Corp boosted its stake in The Goldman Sachs Group by 15.0% in the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock worth $1,885,454,000 after purchasing an additional 428,502 shares during the period. Finally, International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a research note on Friday, April 4th. Finally, HSBC reissued a "reduce" rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $660.00.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the sale, the chief financial officer 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded up $9.45 during trading hours on Friday, reaching $728.63. 1,850,923 shares of the company's stock were exchanged, compared to its average volume of 2,301,066. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $729.89. The company has a market capitalization of $223.57 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The business has a fifty day moving average of $657.60 and a two-hundred day moving average of $605.76. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26.

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 the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $8.62 earnings per share. As a group, research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 26.44%.

The Goldman Sachs Group 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.