Main Street Research LLC Invests $14 Million in The Goldman Sachs Group, Inc. (NYSE:GS)

Main Street Research LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,624 shares of the investment management company's stock, valued at approximately $13,998,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Moloney Securities Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 12.6% during the 1st quarter. Moloney Securities Asset Management LLC now owns 3,743 shares of the investment management company's stock worth $2,045,000 after purchasing an additional 418 shares during the last quarter. Banque Pictet & Cie SA raised its holdings in The Goldman Sachs Group by 4.3% during the first quarter. Banque Pictet & Cie SA now owns 13,438 shares of the investment management company's stock valued at $7,341,000 after buying an additional 558 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after buying an additional 23 shares in the last quarter. GFG Capital LLC raised its holdings in The Goldman Sachs Group by 11.5% during the first quarter. GFG Capital LLC now owns 418 shares of the investment management company's stock valued at $229,000 after buying an additional 43 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in The Goldman Sachs Group by 13.1% during the first quarter. Linden Thomas Advisory Services LLC now owns 620 shares of the investment management company's stock valued at $339,000 after buying an additional 72 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GS shares. JPMorgan Chase & Co. decreased their target price on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley reaffirmed an "equal weight" rating on shares of The Goldman Sachs Group in a research report on Thursday. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday. Daiwa Capital Markets downgraded shares of 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, Citigroup dropped their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $614.00.

Insiders Place Their Bets

In related news, Director John B. Hess acquired 3,904 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the transaction, the director directly owned 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded down $5.01 during trading hours on Friday, hitting $704.11. 1,681,679 shares of the stock were exchanged, compared to its average volume of 2,390,272. 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 stock has a market capitalization of $216.05 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.97 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $726.00. The business's 50-day moving average is $629.38 and its two-hundred day moving average is $595.55.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) 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 firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the previous year, the company posted $11.58 EPS. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

The Goldman Sachs Group 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.