Gamco Investors INC. ET AL Increases Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Gamco Investors INC. ET AL raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,461 shares of the investment management company’s stock after buying an additional 100 shares during the period. Gamco Investors INC. ET AL’s holdings in The Goldman Sachs Group were worth $2,699,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $25,000. First United Bank & Trust purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $26,000. Versant Capital Management Inc increased its stake in shares of The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $29,000. Finally, LifeSteps Financial Inc. purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $33,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 1.5 %

Shares of NYSE:GS traded up $7.32 during trading on Friday, reaching $499.03. The company’s stock had a trading volume of 2,249,857 shares, compared to its average volume of 2,357,447. 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 Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $509.48. The firm’s 50 day simple moving average is $466.04 and its two-hundred day simple moving average is $424.42. The stock has a market capitalization of $160.92 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.00 and a beta of 1.37.

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 given a $3.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

Insider Buying and Selling

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 sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were 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 of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders have sold 4,018,500 shares of company stock valued at $34,342,615 in the last ninety days. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GS has been the subject of several recent analyst reports. JMP Securities upped 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 report on Tuesday, April 9th. HSBC upped their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup upped 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 report on Tuesday, July 16th. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, 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 report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.59.

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.