AMF Tjanstepension AB Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

AMF Tjanstepension AB purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 67,434 shares of the investment management company’s stock, valued at approximately $28,167,000.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC increased its position in shares of The Goldman Sachs Group by 88.0% during the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after purchasing an additional 44 shares during the last quarter. Samalin Investment Counsel LLC grew its position in shares of The Goldman Sachs Group by 3.5% in the third quarter. Samalin Investment Counsel LLC now owns 894 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 30 shares during the last quarter. Synovus Financial Corp increased its stake in shares of The Goldman Sachs Group by 1.9% during the third quarter. Synovus Financial Corp now owns 13,592 shares of the investment management company’s stock worth $4,400,000 after purchasing an additional 254 shares during the period. Bank of Nova Scotia lifted its holdings in The Goldman Sachs Group by 45.3% during the 3rd quarter. Bank of Nova Scotia now owns 129,161 shares of the investment management company’s stock worth $41,795,000 after purchasing an additional 40,259 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth approximately $350,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Monday, April 29th. The shares were 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 owns 623,425 shares in the company, valued at approximately $269,475,456.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. HSBC increased their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JMP Securities increased their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Morgan Stanley dropped their price target on shares of The Goldman Sachs Group from $486.00 to $475.00 and set an “overweight” rating for the company in a research report on Thursday. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Finally, Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday. Six 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, the company has an average rating of “Moderate Buy” and an average price target of $443.78.

The Goldman Sachs Group Price Performance

GS traded up $6.36 on Friday, reaching $452.32. The stock had a trading volume of 3,822,688 shares, compared to its average volume of 2,300,687. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $145.86 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $471.48. The firm has a 50-day moving average of $449.86 and a 200-day moving average of $410.39.

The Goldman Sachs Group (NYSE:GS) last released its quarterly 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 company had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same period in the previous year, the business posted $8.79 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 36.59 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th were paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 30th. The Goldman Sachs Group’s dividend 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.