Heritage Investors Management Corp Sells 1,278 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Heritage Investors Management Corp reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,453 shares of the investment management company's stock after selling 1,278 shares during the quarter. The Goldman Sachs Group comprises 1.2% of Heritage Investors Management Corp's holdings, making the stock its 22nd largest holding. Heritage Investors Management Corp's holdings in The Goldman Sachs Group were worth $33,570,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC raised its position in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in The Goldman Sachs Group during the fourth quarter worth $583,000. Highview Capital Management LLC DE grew its holdings in The Goldman Sachs Group by 4.7% during the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after buying an additional 171 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth $231,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GS. Citigroup decreased their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company 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 research report on Thursday, April 3rd. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $649.29.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $708.31 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $217.34 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35. The business's 50-day moving average price is $647.01 and its 200-day moving average price is $601.08. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS 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. Investors of record on Friday, August 29th will be given 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 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

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.

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