The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its holdings in The Goldman Sachs Group by 67.6% in Q1, reaching a total of $45.17 million.
• Institutional investors currently own 71.21% of the company's stock, with several hedge funds significantly boosting their positions during the first quarter.
• The Goldman Sachs Group has announced a quarterly dividend of $4.00 per share, raising it from the previous $3.00 per share, reflecting a strong commitment to shareholder returns.

Federated Hermes Inc. raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 67.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,682 shares of the investment management company's stock after purchasing an additional 33,342 shares during the quarter. Federated Hermes Inc.'s holdings in The Goldman Sachs Group were worth $45,168,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $31,000. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Godsey & Gibb Inc. boosted its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Lowe Wealth Advisors LLC boosted its stake in The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded down $14.19 during trading on Friday, reaching $709.40. The stock had a trading volume of 2,997,787 shares, compared to its average volume of 2,015,611. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12. The business has a fifty day moving average price of $669.82 and a 200-day moving average price of $610.85. The stock has a market cap of $217.67 billion, a PE ratio of 15.63, a PEG ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $737.88.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for 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 business's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $8.62 earnings per share. On average, equities analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 2.3%. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GS. Barclays decreased their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Citigroup upped their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $660.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction 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 sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is owned by corporate 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.