iA Global Asset Management Inc. Raises Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

iA Global Asset Management Inc. increased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,652 shares of the investment management company's stock after acquiring an additional 4,259 shares during the period. iA Global Asset Management Inc.'s holdings in The Goldman Sachs Group were worth $58,192,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Bailard Inc. purchased a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $212,000. Fiduciary Group LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $229,000. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in The Goldman Sachs Group by 46.2% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 987 shares of the investment management company's stock worth $381,000 after buying an additional 312 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in The Goldman Sachs Group by 4.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,283 shares of the investment management company's stock valued at $7,053,000 after buying an additional 819 shares during the period. Finally, Certuity LLC increased its stake in shares of The Goldman Sachs Group by 92.7% during the 4th quarter. Certuity LLC now owns 1,555 shares of the investment management company's stock valued at $600,000 after acquiring an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

GS stock traded up $3.13 during mid-day trading on Friday, reaching $510.25. The company had a trading volume of 1,820,888 shares, compared to its average volume of 2,274,769. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.26. The stock's 50-day simple moving average is $484.49 and its two-hundred day simple moving average is $443.16. The stock has a market capitalization of $164.54 billion, a P/E ratio of 19.92, a P/E/G ratio of 0.99 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.26%. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.35%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $2.75. The Goldman Sachs Group's payout ratio is presently 46.86%.

Insiders Place Their Bets

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the 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 completion of the transaction, the insider now owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction 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 transaction, the insider now directly owns 12,095 shares of the company's stock, valued at $6,119,949.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,013,500 shares of company stock worth $32,181,365. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GS. Barclays upped their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 16th. Royal Bank of Canada restated a "sector perform" rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. BMO Capital Markets boosted their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a "market perform" rating in a research report on Wednesday, July 17th. Oppenheimer boosted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 16th. Finally, Evercore ISI boosted their price target 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Moderate Buy" and a consensus price target of $495.94.

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.

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