KG&L Capital Management LLC Purchases 2,927 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

KG&L Capital Management LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 41.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,987 shares of the investment management company's stock after buying an additional 2,927 shares during the quarter. The Goldman Sachs Group makes up about 1.8% of KG&L Capital Management LLC's investment portfolio, making the stock its 12th largest holding. KG&L Capital Management LLC's holdings in The Goldman Sachs Group were worth $5,423,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of The Goldman Sachs Group by 63,864.7% during 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 in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $1,766,238,000. Norges Bank bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at about $1,603,315,000. Castlekeep Investment Advisors LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at about $944,334,000. Finally, Raymond James Financial Inc. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at about $624,844,000. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Barclays lowered their target price 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. Evercore ISI lowered their target price on 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. Daiwa Capital Markets lowered The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price on the stock. in a report on Friday, April 4th. Finally, Oppenheimer lowered The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $595.67.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director John B. Hess bought 3,904 shares of the 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 purchase, the director now directly owns 3,904 shares in the company, valued at $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.5%

GS traded up $3.59 during trading on Friday, reaching $690.75. The company had a trading volume of 3,644,601 shares, compared to its average volume of 2,381,784. The firm's 50-day simple moving average is $598.32 and its 200 day simple moving average is $587.13. The company has a market cap of $211.95 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.94 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 $711.65. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The company had revenue of $15.06 billion for the quarter, compared to analysts' expectations of $14.99 billion. During the same quarter in the previous year, the business posted $11.58 EPS. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $3.00 per share. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 1.74%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

The Goldman Sachs Group Company 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.