Korea Investment CORP Raises Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Korea Investment CORP has increased its stake in The Goldman Sachs Group by 9.0%, owning approximately 0.08% of the company valued at $137.68 million.
• The firm recently announced a dividend increase to $4.00 per share, with a dividend yield of 2.2% and an upcoming payment date of September 29th.
• Analysts have given mixed ratings for Goldman Sachs, with a consensus rating of "Hold" and a target price of $660.00.

Korea Investment CORP boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 252,023 shares of the investment management company's stock after buying an additional 20,772 shares during the period. Korea Investment CORP owned approximately 0.08% of The Goldman Sachs Group worth $137,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC lifted its holdings in The Goldman Sachs Group by 54.8% in the first quarter. Aptus Capital Advisors LLC now owns 12,157 shares of the investment management company's stock valued at $6,641,000 after acquiring an additional 4,305 shares during the period. Granite Harbor Advisors Inc. acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $207,000. Northern Trust Corp lifted its holdings in The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares during the period. Brooklyn Investment Group lifted its holdings in The Goldman Sachs Group by 67.8% in the first quarter. Brooklyn Investment Group now owns 3,072 shares of the investment management company's stock valued at $1,678,000 after acquiring an additional 1,241 shares during the period. Finally, Versor Investments LP acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $947,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Citigroup upped their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, HSBC reissued a "reduce" rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $660.00.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group 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 $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group 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 sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. 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. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $730.50 on Monday. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $749.05. The firm has a market capitalization of $221.14 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The stock's 50-day simple moving average is $694.80 and its 200-day simple moving average is $617.51.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The firm's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.62 earnings per share. As a group, equities research 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

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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