KLP Kapitalforvaltning AS Increases Position in The Goldman Sachs Group, Inc. $GS

Key Points

• KLP Kapitalforvaltning AS increased its stake in The Goldman Sachs Group by 0.6%, now owning 136,163 shares worth approximately $96.37 million.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00, up from the previous $3.00, representing an annual yield of 2.0%.
• Analysts have varying ratings for GS shares, with price targets adjusted between $600.00 and $854.00 following recent developments in the market.

KLP Kapitalforvaltning AS grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,163 shares of the investment management company's stock after buying an additional 800 shares during the period. KLP Kapitalforvaltning AS's holdings in The Goldman Sachs Group were worth $96,369,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in shares of The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after buying an additional 116,535 shares during the period. Clear Creek Financial Management LLC purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $321,000. Blueshift Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after buying an additional 652 shares during the period. Adams Diversified Equity Fund Inc. grew its stake in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after buying an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $1,643,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $796.13 on Tuesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $241.00 billion, a P/E ratio of 17.54, a PEG ratio of 1.64 and a beta of 1.42. The company has a 50 day moving average price of $756.50 and a 200 day moving average price of $657.99. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

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

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $4.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on GS shares. Royal Bank Of Canada increased their price target on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. JMP Securities reissued a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Hold" and a consensus target price of $717.00.

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.

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