BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,256 shares of the investment management company’s stock after purchasing an additional 2,103 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in The Goldman Sachs Group were worth $3,448,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GS. First Personal Financial Services acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $25,000. First United Bank & Trust acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $26,000. Versant Capital Management Inc grew its holdings in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $29,000. Finally, BKM Wealth Management LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $32,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on GS. Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a report on Tuesday, April 16th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. UBS Group raised 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 report on Tuesday. HSBC raised their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $450.62.

The Goldman Sachs Group Stock Performance

NYSE:GS traded up $1.44 during mid-day trading on Wednesday, hitting $474.27. The stock had a trading volume of 444,533 shares, compared to its average volume of 2,277,971. The stock has a market capitalization of $152.93 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 0.94 and a beta of 1.37. The company has a 50 day simple moving average of $455.83 and a 200-day simple moving average of $415.39. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $479.30. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same period in the previous year, the firm earned $8.79 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 36.63 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were issued a $2.75 dividend. The ex-dividend date was Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.32%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insider Buying and Selling

In related 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 shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the transaction, the director now directly owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Insiders own 0.57% 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.