New Covenant Trust Company N.A. Takes $212,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

New Covenant Trust Company N.A. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 508 shares of the investment management company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in The Goldman Sachs Group by 13.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after buying an additional 20,018 shares in the last quarter. HTLF Bank bought a new stake in The Goldman Sachs Group in the 4th quarter worth about $850,000. Apexium Financial LP increased its holdings in The Goldman Sachs Group by 7.1% in the 4th quarter. Apexium Financial LP now owns 5,672 shares of the investment management company’s stock worth $2,188,000 after buying an additional 378 shares in the last quarter. Empowered Funds LLC increased its holdings in The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after buying an additional 2,428 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in The Goldman Sachs Group in the 1st quarter worth about $1,388,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GS. Evercore ISI lifted their price objective on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Wells Fargo & Company raised 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. BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Citigroup raised their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Barclays raised their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $487.41.

The Goldman Sachs Group Price Performance

NYSE GS traded down $8.91 during trading hours on Thursday, reaching $500.12. The company’s stock had a trading volume of 3,942,602 shares, compared to its average volume of 2,324,915. 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 $517.26. The firm’s 50-day moving average price is $469.12 and its 200-day moving average price is $427.78. The company has a market capitalization of $161.27 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.02 and a beta of 1.37.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $3.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.40%. The Goldman Sachs Group’s payout ratio is presently 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders have sold a total of 4,013,500 shares of company stock valued at $32,181,365 in the last quarter. 0.54% of the stock is currently owned by insiders.

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.