Bessemer Group Inc. Acquires 7,826 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Bessemer Group Inc. grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 56.1% in the first quarter, HoldingsChannel.com reports. The fund owned 21,780 shares of the investment management company’s stock after purchasing an additional 7,826 shares during the period. Bessemer Group Inc.’s holdings in The Goldman Sachs Group were worth $9,097,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $32,000. Raymond James & Associates lifted its position in The Goldman Sachs Group by 41.9% in the 4th quarter. Raymond James & Associates now owns 612,025 shares of the investment management company’s stock worth $236,101,000 after buying an additional 180,674 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in The Goldman Sachs Group by 0.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 114,006 shares of the investment management company’s stock worth $43,980,000 after buying an additional 683 shares during the last quarter. Pacer Advisors Inc. lifted its position in The Goldman Sachs Group by 2.7% in the 4th quarter. Pacer Advisors Inc. now owns 21,485 shares of the investment management company’s stock worth $8,288,000 after buying an additional 558 shares during the last quarter. Finally, ZRC Wealth Management LLC lifted its position in The Goldman Sachs Group by 985.3% in the 4th quarter. ZRC Wealth Management LLC now owns 369 shares of the investment management company’s stock worth $142,000 after buying an additional 335 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The disclosure for this sale can be found here. Insiders have sold a total of 4,018,500 shares of company stock valued at $34,342,615 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GS shares. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada boosted their price objective on The Goldman Sachs Group from $435.00 to $500.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $484.59.

The Goldman Sachs Group Trading Up 0.9 %

Shares of GS traded up $4.59 during mid-day trading on Thursday, hitting $491.29. 442,597 shares of the company’s stock traded hands, compared to its average volume of 2,306,583. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $509.48. The firm has a market capitalization of $158.42 billion, a P/E ratio of 19.00, a PEG ratio of 1.00 and a beta of 1.37. The business’s 50-day moving average price is $464.87 and its 200-day moving average price is $423.18.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.44%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

The Goldman Sachs Group Company 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.