Congress Asset Management Co. Purchases 1,988 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Congress Asset Management Co. grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,362 shares of the investment management company's stock after purchasing an additional 1,988 shares during the period. The Goldman Sachs Group makes up approximately 1.1% of Congress Asset Management Co.'s investment portfolio, making the stock its 21st largest holding. Congress Asset Management Co. owned 0.09% of The Goldman Sachs Group worth $144,965,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Asset Planning Inc bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $29,000. Curio Wealth LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $30,000. Mascagni Wealth Management Inc. bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $31,000. Transce3nd LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $31,000. Finally, Whipplewood Advisors LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $34,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GS has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 15th. Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a research report on Friday, April 4th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Wells Fargo & Company lowered their price target on The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $593.40.

Insiders Place Their Bets

In related news, Director John B. Hess acquired 3,904 shares of the stock in a transaction on Tuesday, April 15th. The shares were purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $614.49 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $672.19. The stock's 50 day moving average is $555.71 and its 200-day moving average is $582.82. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $188.55 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.89 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted 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 Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same quarter last year, the company earned $11.58 EPS. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 1.95%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 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.

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