Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 256,209 shares of the investment management company’s stock after buying an additional 8,910 shares during the quarter. The Goldman Sachs Group makes up about 1.4% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 10th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.08% of The Goldman Sachs Group worth $126,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $1,903,374,000. Legal & General Group Plc grew its holdings in shares of The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after purchasing an additional 77,700 shares during the last quarter. Dimensional Fund Advisors LP increased its position in The Goldman Sachs Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after acquiring an additional 68,141 shares during the period. Jennison Associates LLC raised its position in The Goldman Sachs Group by 18.0% during the 1st quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock worth $752,425,000 after purchasing an additional 274,509 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its stake in shares of The Goldman Sachs Group by 0.3% in the first quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock worth $498,472,000 after acquiring an additional 3,396 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $528.97 on Friday. The stock has a market cap of $170.57 billion, a PE ratio of 20.65, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $540.51. The stock has a fifty day simple moving average of $497.39 and a 200-day simple moving average of $468.25. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.47 earnings per share. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 46.86%.

Analysts Set New Price Targets

GS has been the subject of several recent analyst reports. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. JMP Securities lifted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday. Five investment 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 has a consensus rating of “Moderate Buy” and an average target price of $524.69.

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.