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Stevens Capital Management LP Purchases New Position in The Goldman Sachs Group, Inc. (NYSE:GS)

The Goldman Sachs Group logo with Finance background

Key Points

  • Stevens Capital Management LP has acquired 8,330 shares of The Goldman Sachs Group, Inc., totaling approximately $4.55 million, which represents about 1.1% of their portfolio.
  • The Goldman Sachs Group recently increased its quarterly dividend to $4.00 from $3.00, with a yield of 2.22%, reflecting a positive change for shareholders.
  • Equities analysts have mixed views on the stock, with a consensus rating of "Hold" and a price target averaging $660.00, indicating expectations of stable performance.
  • Five stocks we like better than The Goldman Sachs Group.

Stevens Capital Management LP purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,330 shares of the investment management company's stock, valued at approximately $4,551,000. The Goldman Sachs Group comprises approximately 1.1% of Stevens Capital Management LP's investment portfolio, making the stock its 25th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in The Goldman Sachs Group by 15.4% during the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock valued at $594,412,000 after purchasing an additional 138,198 shares during the period. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at about $321,000. Adams Diversified Equity Fund Inc. increased its holdings in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after purchasing an additional 14,600 shares during the period. Terra Nova Asset Management LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at about $1,643,000. Finally, Strategic Blueprint LLC increased its holdings in The Goldman Sachs Group by 15.2% during the 1st quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company's stock valued at $1,787,000 after purchasing an additional 432 shares during the period. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded up $10.15 during midday trading on Tuesday, hitting $733.80. The company had a trading volume of 874,642 shares, compared to its average volume of 2,621,581. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The company has a market cap of $225.16 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.55 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $733.65. The company has a fifty day moving average of $659.83 and a two-hundred day moving average of $607.08.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business posted $8.62 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts expect 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. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.18%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GS. Citigroup upped their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HSBC reaffirmed a "reduce" rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report 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 on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $660.00.

View Our Latest Research Report on GS

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,079 shares of company stock valued at $14,423,221. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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