Pzena Investment Management LLC Boosts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Pzena Investment Management LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,653 shares of the investment management company's stock after acquiring an additional 3,244 shares during the quarter. Pzena Investment Management LLC's holdings in The Goldman Sachs Group were worth $74,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $583,000. Highview Capital Management LLC DE increased its stake in shares of The Goldman Sachs Group by 4.7% in the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after purchasing an additional 171 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of The Goldman Sachs Group by 5.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 760 shares of the investment management company's stock worth $435,000 after purchasing an additional 36 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Down 0.3%

Shares of NYSE:GS traded down $2.20 during trading on Thursday, reaching $706.62. The company's stock had a trading volume of 2,043,921 shares, compared to its average volume of 2,370,571. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $726.00. The stock has a market capitalization of $216.82 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.35. The firm's 50 day simple moving average is $641.38 and its two-hundred day simple moving average is $599.03.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company posted $8.62 EPS. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $4.00 dividend. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is 27.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GS shares. Barclays reduced their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company upped their price objective on 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. Morgan Stanley increased 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 note on Thursday. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday. Finally, HSBC reiterated a "reduce" rating and issued a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $630.87.

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.