The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,009 shares of the investment management company's stock after selling 864 shares during the period. M&T Bank Corp's holdings in The Goldman Sachs Group were worth $14,208,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in shares of The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock valued at $594,412,000 after acquiring an additional 138,198 shares in the last quarter. Baxter Bros Inc. grew its stake in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company's stock valued at $8,879,000 after acquiring an additional 151 shares in the last quarter. Erste Asset Management GmbH grew its stake in shares of The Goldman Sachs Group by 5.9% during the fourth quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company's stock valued at $3,309,000 after acquiring an additional 320 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $321,000. Finally, Terra Nova Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $1,643,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank Of Canada lowered their target price on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 15th. HSBC reiterated a "reduce" rating and issued a $627.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday. Evercore ISI lifted their price target on The Goldman Sachs Group from $630.00 to $715.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target for the company. in a research note on Friday, April 4th. Finally, Citigroup decreased their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $614.00.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $696.78 on Wednesday. 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 firm's 50-day moving average price is $623.32 and its two-hundred day moving average price is $593.89. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $726.00. The stock has a market capitalization of $213.80 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.97 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating 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 return on equity of 13.76% and a net margin of 11.86%. During the same quarter in the previous year, the company posted $11.58 earnings per share. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.72%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director John B. Hess purchased 3,904 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the acquisition, the director owned 3,904 shares in the company, valued at approximately $1,997,598.72. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.