The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,051,057 shares of the investment management company’s stock after selling 15,132 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.32% of The Goldman Sachs Group worth $439,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GS. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $1,903,374,000. Norges Bank acquired a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $1,120,119,000. Wellington Management Group LLP boosted its holdings in shares of The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after acquiring an additional 464,954 shares during the period. Morgan Stanley boosted its holdings in shares of The Goldman Sachs Group by 7.8% in the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after acquiring an additional 412,383 shares during the period. Finally, Capital World Investors boosted its holdings in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after acquiring an additional 338,181 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE:GS traded up $1.15 during trading hours on Wednesday, hitting $466.76. The company’s stock had a trading volume of 220,997 shares, compared to its average volume of 2,274,513. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $471.48. The company has a market capitalization of $150.51 billion, a PE ratio of 18.20, a PEG ratio of 0.91 and a beta of 1.37. The business’s 50-day moving average is $450.78 and its two-hundred day moving average is $411.69. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The business had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. During the same quarter last year, the business posted $8.79 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 36.49 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were paid a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insider Activity at The Goldman Sachs Group

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction 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 sale, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was 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 of the company’s stock, valued at approximately $82,299,679.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Bank of America increased their price objective on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup increased their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Finally, Oppenheimer upped their price target on The Goldman Sachs Group from $479.00 to $517.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $445.62.

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.