Carret Asset Management LLC Grows Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Carret Asset Management LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,574 shares of the investment management company's stock after buying an additional 1,270 shares during the period. The Goldman Sachs Group accounts for approximately 0.9% of Carret Asset Management LLC's holdings, making the stock its 24th largest holding. Carret Asset Management LLC's holdings in The Goldman Sachs Group were worth $7,962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 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 acquiring an additional 161,500 shares during the last quarter. Fisher Asset Management LLC raised its stake in The Goldman Sachs Group by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company's stock worth $3,524,669,000 after purchasing an additional 112,696 shares during the period. 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 valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. FMR LLC boosted its holdings in shares of The Goldman Sachs Group by 23.7% in the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company's stock valued at $2,053,614,000 after purchasing an additional 687,711 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of The Goldman Sachs Group by 15.0% during the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock valued at $1,885,454,000 after buying an additional 428,502 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GS. Citigroup reduced their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. cut their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Wall Street Zen lowered The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Evercore ISI dropped their target price on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and an average price target of $593.40.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $635.69 on Friday. The firm has a fifty day simple moving average of $578.87 and a 200-day simple moving average of $584.22. The company has a market capitalization of $195.05 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.87 and a beta of 1.32. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $672.19. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. During the same quarter in the previous year, the business posted $11.58 EPS. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is 27.85%.

Insider Activity at The Goldman Sachs Group

In related news, Director John B. Hess purchased 3,904 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.