LGT Group Foundation Buys 514 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

LGT Group Foundation lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,699 shares of the investment management company’s stock after purchasing an additional 514 shares during the quarter. LGT Group Foundation’s holdings in The Goldman Sachs Group were worth $3,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GS. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter valued at $1,903,374,000. Norges Bank purchased a new position in The Goldman Sachs Group during the fourth quarter worth $1,120,119,000. AMF Tjanstepension AB boosted its stake in The Goldman Sachs Group by 1,102.4% during the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after buying an additional 743,402 shares during the period. Wellington Management Group LLP boosted its stake in The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after buying an additional 464,954 shares during the period. Finally, Verity & Verity LLC boosted its stake in The Goldman Sachs Group by 26,378.2% during the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after buying an additional 406,224 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GS has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. BMO Capital Markets lifted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Barclays boosted their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $496.44.

The Goldman Sachs Group Stock Performance

GS stock opened at $488.57 on Tuesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average price of $489.83 and a 200 day moving average price of $449.31. The company has a market capitalization of $157.55 billion, a P/E ratio of 19.08, a PEG ratio of 0.74 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 35.49 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a yield of 2.46%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is currently owned by insiders.

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.