Teachers Retirement System of The State of Kentucky Sells 1,610 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Teachers Retirement System of The State of Kentucky cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 27,007 shares of the investment management company’s stock after selling 1,610 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in The Goldman Sachs Group were worth $11,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. First Personal Financial Services purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in The Goldman Sachs Group by 106.3% in the first 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 during the last quarter. First United Bank & Trust purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Pineridge Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $29,000. Finally, LifeSteps Financial Inc. purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $33,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded down $29.48 during trading on Friday, hitting $470.64. The stock had a trading volume of 6,115,462 shares, compared to its average volume of 2,606,533. The firm has a market cap of $151.76 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.99 and a beta of 1.37. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. The business’s 50-day moving average is $469.30 and its 200 day moving average is $428.76.

The Goldman Sachs Group Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Analyst Ratings Changes

GS has been the topic of several research analyst reports. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective on the stock in a research note on Tuesday, April 16th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Oppenheimer increased their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. UBS Group increased their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Evercore ISI increased their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of the 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 transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. 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 over the last 90 days. 0.54% of the stock is 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.