Meiji Yasuda Life Insurance Co Boosts Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Meiji Yasuda Life Insurance Co increased its holdings in The Goldman Sachs Group by 1.4%, owning 25,336 shares worth approximately $13.84 million after acquiring an additional 340 shares in Q1.
• Multiple large investors, including GAMMA Investing LLC and International Assets Investment Management LLC, also significantly increased their positions in The Goldman Sachs Group during the same quarter, contributing to institutional investors owning 71.21% of the company's stock.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00, which will be paid on September 29, 2021, reflecting a current dividend yield of 2.2%.

Meiji Yasuda Life Insurance Co boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,336 shares of the investment management company's stock after acquiring an additional 340 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in The Goldman Sachs Group were worth $13,841,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in The Goldman Sachs Group by 63,864.7% during the 1st 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 during the period. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $1,766,238,000. Nuveen LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $897,185,000. Assenagon Asset Management S.A. raised its position in shares of The Goldman Sachs Group by 102.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock worth $8,065,000 after acquiring an additional 585,084 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its position in shares of The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock worth $256,876,000 after acquiring an additional 461,911 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GS. Morgan Stanley boosted their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Stock Down 1.3%

Shares of GS stock opened at $739.11 on Monday. The stock's 50-day simple moving average is $723.63 and its 200-day simple moving average is $626.52. 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 firm has a market capitalization of $223.74 billion, a PE ratio of 16.29, a P/E/G ratio of 1.57 and a beta of 1.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $757.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The business 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 company's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $8.62 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed 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 is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Insider Transactions at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Solomon sold 6,608 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 $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 over the last three months. Company insiders own 0.55% of the company's stock.

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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