State of Alaska Department of Revenue Increases Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

State of Alaska Department of Revenue boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,969 shares of the investment management company's stock after purchasing an additional 5,181 shares during the quarter. State of Alaska Department of Revenue's holdings in The Goldman Sachs Group were worth $22,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GS. MFA Wealth Advisors LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth about $1,994,000. LifeWealth Investments LLC purchased a new position in shares of The Goldman Sachs Group during the first quarter worth about $347,000. Dunhill Financial LLC grew its holdings in shares of The Goldman Sachs Group by 270.2% during the first quarter. Dunhill Financial LLC now owns 174 shares of the investment management company's stock worth $95,000 after purchasing an additional 127 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of The Goldman Sachs Group by 108.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 9,270 shares of the investment management company's stock worth $5,076,000 after purchasing an additional 4,818 shares during the last quarter. Finally, Essex Savings Bank raised its stake in The Goldman Sachs Group by 9.4% in the first quarter. Essex Savings Bank now owns 2,185 shares of the investment management company's stock valued at $1,194,000 after purchasing an additional 188 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on GS. Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. JMP Securities reduced their target price on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Barclays lowered their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $593.40.

The Goldman Sachs Group Stock Down 0.6%

GS opened at $624.30 on Wednesday. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $672.19. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41. The business's 50-day moving average price is $573.58 and its 200-day moving average price is $583.63. The company has a market cap of $191.56 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.85 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the previous year, the company posted $11.58 earnings per share. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's payout ratio is 27.85%.

Insider Activity

In related news, Director John B. Hess purchased 3,904 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.55% of the company's stock.

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.

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