Heritage Investment Group Inc. Makes New $365,000 Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Heritage Investment Group Inc. acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 669 shares of the investment management company's stock, valued at approximately $365,000.

Several other large investors also recently modified their holdings of GS. GAMMA Investing LLC grew its holdings in The Goldman Sachs Group by 63,864.7% during 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 acquiring 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 during the first quarter worth about $1,766,238,000. Norges Bank acquired a new position in The Goldman Sachs Group in the fourth quarter worth about $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter worth about $944,334,000. Finally, Raymond James Financial Inc. bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $624,844,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John B. Hess bought 3,904 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JMP Securities dropped their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley boosted 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. Evercore ISI dropped their target price on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Wells Fargo & Company reduced their price target on shares of 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, Oppenheimer downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $595.67.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock traded down $1.52 during midday trading on Tuesday, hitting $706.23. The company had a trading volume of 3,299,600 shares, compared to its average volume of 2,385,991. The stock has a market cap of $216.70 billion, a PE ratio of 16.39, a P/E/G ratio of 0.94 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $714.30. The business's 50 day simple moving average is $602.45 and its two-hundred day simple moving average is $587.92. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate 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 firm posted $11.58 EPS. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

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.