Mirae Asset Global Investments Co. Ltd. Acquires 4,584 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in The Goldman Sachs Group, acquiring an additional 4,584 shares for a total of 53,677 shares, now valued at $37,990,000.
• The Goldman Sachs Group announced a quarterly dividend of $4.00, reflecting a positive increase from the previous $3.00 dividend, with an annualized yield of 2.0%.
• In its latest earnings report, The Goldman Sachs Group reported $10.91 earnings per share, exceeding analyst expectations, and a revenue of $14.58 billion, a 14.5% increase year-over-year.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,677 shares of the investment management company's stock after purchasing an additional 4,584 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in The Goldman Sachs Group were worth $37,990,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its holdings in shares of The Goldman Sachs Group by 28.6% during 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 purchasing an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at $321,000. Blueshift Asset Management LLC boosted its position in The Goldman Sachs Group by 161.8% during 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. boosted its position in The Goldman Sachs Group by 41.5% during 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 The Goldman Sachs Group during the 1st quarter valued at $1,643,000. Institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GS shares. Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. JMP Securities reissued a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. 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, Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and an average price target of $713.88.

The Goldman Sachs Group Trading Up 1.4%

NYSE:GS opened at $790.32 on Friday. The company has a 50-day moving average price of $755.05 and a 200-day moving average price of $655.05. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock has a market cap of $239.25 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.62 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $8.62 EPS. Equities analysts predict 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. Investors of record on Friday, August 29th were paid a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated 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 directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction 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 approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last quarter. 0.55% of the stock is owned by insiders.

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.

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