State of Michigan Retirement System Has $48.82 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

State of Michigan Retirement System lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,373 shares of the investment management company's stock after selling 500 shares during the period. State of Michigan Retirement System's holdings in The Goldman Sachs Group were worth $48,824,000 as of its most recent filing with the SEC.

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

The Goldman Sachs Group Stock Up 1.2%

Shares of NYSE GS traded up $8.35 during trading on Monday, reaching $713.30. 1,906,164 shares of the stock were exchanged, compared to its average volume of 2,675,813. The business's 50-day moving average price is $632.13 and its 200 day moving average price is $596.59. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $726.00. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $218.87 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion for 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 period in the prior year, the company earned $11.58 earnings per share. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.68%. The Goldman Sachs Group's dividend payout ratio (DPR) is 27.85%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director John B. Hess acquired 3,904 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 15th. The stock was bought at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the purchase, the director owned 3,904 shares of the company's stock, valued at $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Morgan Stanley reiterated an "equal weight" rating on shares of The Goldman Sachs Group in a report on Thursday. Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a research note on Friday, April 4th. Finally, Barclays lowered 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. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.