Sumitomo Life Insurance Co. Sells 1,469 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Sumitomo Life Insurance Co. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,972 shares of the investment management company's stock after selling 1,469 shares during the period. The Goldman Sachs Group comprises approximately 0.5% of Sumitomo Life Insurance Co.'s holdings, making the stock its 24th largest holding. Sumitomo Life Insurance Co.'s holdings in The Goldman Sachs Group were worth $13,096,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GS. Asahi Life Asset Management CO. LTD. lifted its holdings in The Goldman Sachs Group by 11.6% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 9,953 shares of the investment management company's stock worth $5,437,000 after buying an additional 1,037 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of The Goldman Sachs Group by 181.9% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 79,079 shares of the investment management company's stock worth $43,200,000 after acquiring an additional 51,030 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of The Goldman Sachs Group by 36.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,217 shares of the investment management company's stock worth $5,035,000 after buying an additional 2,475 shares during the period. Apollon Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 7.3% during the 1st quarter. Apollon Wealth Management LLC now owns 14,014 shares of the investment management company's stock worth $7,656,000 after buying an additional 954 shares during the period. Finally, Bogart Wealth LLC raised its stake in shares of The Goldman Sachs Group by 1.1% during the first quarter. Bogart Wealth LLC now owns 13,478 shares of the investment management company's stock worth $7,363,000 after buying an additional 151 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director John B. Hess acquired 3,904 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were purchased 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 owned 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Down 0.7%

GS stock opened at $704.11 on Monday. The stock has a market capitalization of $216.05 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35. 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 firm has a 50-day moving average price of $632.13 and a 200-day moving average price of $596.59. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $1.55. The business had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same period last year, the company earned $11.58 EPS. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 1.70%. The Goldman Sachs Group's payout ratio is 27.85%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GS shares. Wells Fargo & Company lifted their target price 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. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Citigroup cut their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Morgan Stanley restated an "equal weight" rating on shares of The Goldman Sachs Group in a research report on Thursday. Finally, HSBC reiterated a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $614.00.

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.

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