The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,859,000 shares of the investment management company's stock after selling 756,876 shares during the period. Massachusetts Financial Services Co. MA owned 0.60% of The Goldman Sachs Group worth $1,015,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GS. Castlekeep Investment Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 33.5% during the first quarter. Castlekeep Investment Advisors LLC now owns 3,941 shares of the investment management company's stock worth $2,153,000 after purchasing an additional 988 shares during the period. Asahi Life Asset Management CO. LTD. lifted its stake in shares of The Goldman Sachs Group by 11.6% in 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 acquiring an additional 1,037 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of The Goldman Sachs Group by 181.9% in the 1st 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 period. SBI Securities Co. Ltd. lifted its stake in shares of The Goldman Sachs Group by 36.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,217 shares of the investment management company's stock worth $5,035,000 after acquiring an additional 2,475 shares during the period. Finally, Apollon Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 7.3% in the 1st quarter. Apollon Wealth Management LLC now owns 14,014 shares of the investment management company's stock worth $7,656,000 after acquiring an additional 954 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GS. 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 research report on Tuesday, July 8th. JMP Securities cut their price objective on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Barclays cut their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. HSBC reissued a "reduce" rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $614.00.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $704.11 on Monday. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $726.00. The company has a market cap of $216.05 billion, a P/E ratio of 16.34, a PEG ratio of 0.96 and a beta of 1.35. 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 business has a 50 day moving average of $632.13 and a two-hundred day moving average of $596.59.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The firm had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same period in the previous year, the business posted $11.58 EPS. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current 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 1.70%. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Insider Activity

In other The Goldman Sachs Group news, Director John B. Hess purchased 3,904 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 15th. The stock was bought at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the transaction, the director owned 3,904 shares of the company's stock, valued at $1,997,598.72. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company's stock.

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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