Independence Bank of Kentucky Acquires 710 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Independence Bank of Kentucky raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,262 shares of the investment management company's stock after purchasing an additional 710 shares during the quarter. Independence Bank of Kentucky's holdings in The Goldman Sachs Group were worth $1,236,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG raised its position in shares of The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock worth $594,412,000 after acquiring an additional 138,198 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of The Goldman Sachs Group by 2.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company's stock worth $129,144,000 after acquiring an additional 5,541 shares during the last quarter. Baxter Bros Inc. raised its position in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company's stock worth $8,879,000 after acquiring an additional 151 shares during the last quarter. Erste Asset Management GmbH increased its holdings in The Goldman Sachs Group by 5.9% in the fourth quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company's stock valued at $3,309,000 after purchasing an additional 320 shares during the last quarter. Finally, Atlas Legacy Advisors LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $356,000. Institutional investors own 71.21% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GS shares. Wells Fargo & Company reduced their price objective on The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Evercore ISI lowered their price objective on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Daiwa Capital Markets lowered The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective on the stock. in a research report on Friday, April 4th. Finally, Royal Bank of Canada reduced their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 15th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $593.40.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $614.49 on Friday. 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 firm has a fifty day moving average price of $555.71 and a 200 day moving average price of $582.82. The company has a market cap of $188.55 billion, a P/E ratio of 15.15, a PEG ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $672.19.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same period in the prior year, the company earned $11.58 earnings per share. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.95%. 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.

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