iA Global Asset Management Inc. Buys Shares of 1,250 The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• iA Global Asset Management Inc. has purchased 1,250 shares of The Goldman Sachs Group, amounting to approximately $683,000 in value, as reported in their recent SEC filing.
• Institutional investors and hedge funds collectively own 71.21% of The Goldman Sachs Group's stock, with significant increases in holdings from firms such as GAMMA Investing LLC and Northern Trust Corp.
• The Goldman Sachs Group has announced a quarterly dividend increase to $4.00 per share, up from $3.00, which signifies a positive shift in its dividend policy.

iA Global Asset Management Inc. bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,250 shares of the investment management company's stock, valued at approximately $683,000.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of The Goldman Sachs Group by 63,864.7% in the first 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 period. Northern Trust Corp raised its position in shares of The Goldman Sachs Group by 15.0% in the fourth quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock valued at $1,885,454,000 after purchasing an additional 428,502 shares during the period. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at $1,766,238,000. Dimensional Fund Advisors LP grew its stake in The Goldman Sachs Group by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,126,762 shares of the investment management company's stock valued at $1,217,844,000 after buying an additional 20,322 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Goldman Sachs Group by 15.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company's stock valued at $1,124,532,000 after buying an additional 256,204 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HSBC reaffirmed a "reduce" rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, 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, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $720.33 on Friday. The business has a fifty day simple moving average of $679.08 and a 200 day simple moving average of $613.75. The company has a current ratio of 0.67, a quick ratio of 0.68 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $218.06 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.54 and a beta of 1.38. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $737.88.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $8.62 earnings per share. The company's quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 26.44%.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,079 shares of company stock worth $14,423,221. Company insiders own 0.55% of the company's stock.

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.