OVERSEA CHINESE BANKING Corp Ltd Acquires 352 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,220 shares of the investment management company’s stock after buying an additional 352 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in The Goldman Sachs Group were worth $1,242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth $66,000. Candriam Luxembourg S.C.A. raised its holdings in shares of The Goldman Sachs Group by 1,505.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock valued at $13,633,000 after purchasing an additional 38,727 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of The Goldman Sachs Group by 18.5% in the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock valued at $39,153,000 after purchasing an additional 18,540 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of The Goldman Sachs Group by 79.4% in the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after purchasing an additional 366 shares during the period. Finally, Covestor Ltd boosted its stake in shares of The Goldman Sachs Group by 118.3% during the first quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on GS shares. Citigroup upped their target price on The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Bank of America raised their price objective on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Barclays boosted their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from $410.00 to $430.00 in a report on Thursday, March 14th. Finally, Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $434.93.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the sale, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock valued at $13,950,851 over the last 90 days. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS traded up $0.89 on Friday, reaching $404.00. 2,805,466 shares of the stock were exchanged, compared to its average volume of 2,247,265. The company’s 50-day moving average price is $396.43 and its 200 day moving average price is $366.62. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The firm has a market capitalization of $131.11 billion, a PE ratio of 15.78, a PEG ratio of 1.30 and a beta of 1.43. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $419.20.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the prior year, the firm earned $8.79 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.39 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

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.