Q3 Asset Management Invests $2.74 Million in The Goldman Sachs Group, Inc. (NYSE:GS)

Q3 Asset Management bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 5,010 shares of the investment management company's stock, valued at approximately $2,737,000. The Goldman Sachs Group comprises 1.9% of Q3 Asset Management's holdings, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter worth $29,000. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter worth $30,000. Godsey & Gibb Inc. grew its position in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess purchased 3,904 shares of the stock in a transaction dated Tuesday, April 15th. The stock was bought 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 in the company, valued at $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

GS traded up $7.05 during midday trading on Monday, hitting $712.00. The company had a trading volume of 476,933 shares, compared to its average volume of 2,381,470. 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 company has a market capitalization of $218.47 billion, a PE ratio of 16.48, a P/E/G ratio of 0.96 and a beta of 1.35. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $726.00. The firm's 50-day simple moving average is $632.13 and its 200-day simple moving average is $596.59.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The firm had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. During the same quarter last year, the company posted $11.58 EPS. Equities research analysts predict 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 given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group's payout ratio is presently 27.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GS. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley reaffirmed an "equal weight" rating on shares of The Goldman Sachs Group in a report on Thursday. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $614.00.

About The Goldman Sachs Group

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.