SRN Advisors LLC Grows Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

SRN Advisors LLC increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,022 shares of the investment management company’s stock after buying an additional 448 shares during the period. SRN Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in The Goldman Sachs Group by 13.7% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after buying an additional 20,018 shares during the period. HTLF Bank bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $850,000. Apexium Financial LP increased its position in shares of The Goldman Sachs Group by 7.1% in the 4th quarter. Apexium Financial LP now owns 5,672 shares of the investment management company’s stock worth $2,188,000 after purchasing an additional 378 shares during the last quarter. Empowered Funds LLC increased its position in shares of The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth about $1,388,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. Insiders sold 4,013,500 shares of company stock valued at $32,181,365 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GS shares. Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price for the company in a research report on Tuesday, April 16th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Bank of America boosted their price objective on shares of 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. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded down $29.48 during midday trading on Friday, reaching $470.64. 6,115,462 shares of the stock traded hands, compared to its average volume of 2,606,533. 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 firm has a fifty day moving average price of $469.30 and a two-hundred day moving average price of $428.76. The firm has a market cap of $151.76 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.55%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 46.86%.

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.