LGT Fund Management Co Ltd. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 583 shares of the investment management company's stock, valued at approximately $318,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $25,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $29,000. Godsey & Gibb Inc. raised its stake in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $31,000. 71.21% of the stock is owned by institutional investors.
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 shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents 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 the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,079 shares of company stock worth $14,423,221 over the last quarter. 0.55% of the stock is currently owned by company insiders.
Analyst Ratings Changes
GS has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. 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. HSBC reiterated a "reduce" rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Finally, Citigroup lifted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target of $660.00.
Get Our Latest Stock Report on The Goldman Sachs Group
The Goldman Sachs Group Trading Down 2.2%
NYSE GS traded down $16.70 during trading on Friday, reaching $730.50. 1,645,323 shares of the stock traded hands, compared to its average volume of 2,562,954. The firm has a market cap of $221.14 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $749.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock's 50-day moving average price is $692.48 and its 200 day moving average price is $617.21.
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 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.62 earnings per share. Analysts predict 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is currently 26.44%.
About The Goldman Sachs Group
(
Free Report)
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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