HBK Sorce Advisory LLC Has $1.83 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

HBK Sorce Advisory LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,370 shares of the investment management company’s stock after selling 27 shares during the period. HBK Sorce Advisory LLC’s holdings in The Goldman Sachs Group were worth $1,825,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Midwest Professional Planners LTD. lifted its stake in The Goldman Sachs Group by 35.0% in the first quarter. Midwest Professional Planners LTD. now owns 3,953 shares of the investment management company’s stock valued at $1,651,000 after acquiring an additional 1,024 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 8.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,029 shares of the investment management company’s stock valued at $1,683,000 after purchasing an additional 330 shares during the period. Delta Investment Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at about $268,000. TBH Global Asset Management LLC increased its position in The Goldman Sachs Group by 8.5% during the first quarter. TBH Global Asset Management LLC now owns 3,156 shares of the investment management company’s stock worth $1,318,000 after buying an additional 248 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in The Goldman Sachs Group by 44.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 629,077 shares of the investment management company’s stock valued at $262,759,000 after buying an additional 194,952 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group 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 sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group 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 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. Insiders sold a total of 4,018,500 shares of company stock valued at $34,342,615 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS stock traded down $1.28 on Friday, reaching $484.93. The company had a trading volume of 2,016,290 shares, compared to its average volume of 2,331,094. The stock has a market capitalization of $156.37 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.37. 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 business’s 50-day moving average is $462.51 and its 200 day moving average is $420.06. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $509.48.

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, beating analysts’ consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.26%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $8.79 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 36.62 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $3.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.47%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GS shares. Bank of America lifted their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada increased their price objective on shares of The Goldman Sachs Group from $435.00 to $500.00 and gave the company a “sector perform” rating in a research report on Tuesday. Oppenheimer lifted their target price on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Evercore ISI increased their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $480.44.

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.