Rehmann Capital Advisory Group Boosts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Rehmann Capital Advisory Group raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,973 shares of the investment management company’s stock after buying an additional 94 shares during the quarter. Rehmann Capital Advisory Group’s holdings in The Goldman Sachs Group were worth $1,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of The Goldman Sachs Group by 34.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after purchasing an additional 2,103 shares during the period. RiverPark Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $45,000. Central Pacific Bank Trust Division purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $2,047,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of The Goldman Sachs Group by 2.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 34,630 shares of the investment management company’s stock worth $14,464,000 after purchasing an additional 953 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of The Goldman Sachs Group by 0.6% during the 1st quarter. Whittier Trust Co. now owns 70,826 shares of the investment management company’s stock worth $29,583,000 after purchasing an additional 439 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GS shares. Royal Bank of Canada upped their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. Evercore ISI upped their price target on The Goldman Sachs Group from $440.00 to $475.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Bank of America upped their target price 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. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Finally, UBS Group upped their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $450.62.

The Goldman Sachs Group Stock Performance

NYSE GS traded up $3.16 during trading hours on Wednesday, hitting $475.99. The company had a trading volume of 1,006,839 shares, compared to its average volume of 2,282,264. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $479.30. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18. The business has a fifty day simple moving average of $455.83 and a 200-day simple moving average of $415.39. The firm has a market cap of $153.49 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 0.94 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same period last year, the company earned $8.79 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts predict that The Goldman Sachs Group, Inc. will post 36.63 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th were paid a $2.75 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.31%. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Transactions at The Goldman Sachs Group

In other 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 value of $25,360,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is available at the SEC website. In related news, 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 transaction of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

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.