Homestead Advisers Corp Sells 59,900 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Homestead Advisers Corp lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 22.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,636 shares of the investment management company's stock after selling 59,900 shares during the quarter. The Goldman Sachs Group accounts for 2.8% of Homestead Advisers Corp's portfolio, making the stock its 6th largest position. Homestead Advisers Corp owned about 0.07% of The Goldman Sachs Group worth $112,337,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC lifted its holdings in shares of The Goldman Sachs Group by 1.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company's stock worth $950,000 after purchasing an additional 18 shares during the period. Wynn Capital LLC increased its position in The Goldman Sachs Group by 0.3% during the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after purchasing an additional 20 shares during the period. 1900 Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after buying an additional 20 shares during the period. World Equity Group Inc. grew its holdings in The Goldman Sachs Group by 0.9% during the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after acquiring an additional 20 shares during the period. Finally, Register Financial Advisors LLC raised its position in The Goldman Sachs Group by 2.5% in the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup raised 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. Finally, Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Performance

GS stock traded up $1.70 during trading on Thursday, reaching $719.22. 1,964,228 shares of the company's stock were exchanged, compared to its average volume of 2,648,673. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $726.00. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26. The company's fifty day moving average price is $653.33 and its 200-day moving average price is $603.62. The firm has a market cap of $220.69 billion, a PE ratio of 15.85, a P/E/G ratio of 1.49 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 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 company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the business earned $8.62 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. On average, 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 business also recently announced 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. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.22%. The Goldman Sachs Group's payout ratio is 26.44%.

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.