Ninety One UK Ltd Buys Shares of 577,577 The Goldman Sachs Group, Inc. $GS

Key Points

• Ninety One UK Ltd acquired 577,577 shares of The Goldman Sachs Group, Inc., valued at approximately $408.78 million, representing about 0.19% of the company's total shares.
• The Goldman Sachs Group recently declared a quarterly dividend increase from $3.00 to $4.00, representing an annualized dividend of $16.00 and a yield of 2.0%.
• Recent analyst reports show varying ratings for Goldman Sachs, with five analysts recommending a Buy, twelve giving a Hold, and one issuing a Sell, while the average price target is $690.27.

Ninety One UK Ltd purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 577,577 shares of the investment management company's stock, valued at approximately $408,780,000. Ninety One UK Ltd owned about 0.19% of The Goldman Sachs Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the 1st quarter worth about $25,000. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $29,000. Godsey & Gibb Inc. grew 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 period. Cornerstone Planning Group LLC grew its stake in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after acquiring an additional 23 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after purchasing an additional 17 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GS has been the topic of several research reports. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research note on Tuesday. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $690.27.

Insider Activity

In other news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the company'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 transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $796.20 on Wednesday. The business has a 50-day simple moving average of $751.18 and a two-hundred day simple moving average of $650.88. 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 Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The stock has a market cap of $241.02 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.67 and a beta of 1.41.

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 (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $8.62 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $4.00 dividend. The ex-dividend date was Friday, August 29th. This is an increase 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 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

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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