Dai ichi Life Insurance Company Ltd Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Dai ichi Life Insurance Company Ltd trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 30,478 shares of the investment management company’s stock after selling 1,446 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in The Goldman Sachs Group were worth $13,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Waldron Private Wealth LLC boosted its holdings in shares of The Goldman Sachs Group by 0.8% during the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after acquiring an additional 20 shares during the period. Fulton Bank N.A. grew its position in The Goldman Sachs Group by 0.8% in the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock worth $1,233,000 after purchasing an additional 22 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of The Goldman Sachs Group by 1.1% in the second quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock valued at $893,000 after purchasing an additional 22 shares during the period. Jacobi Capital Management LLC raised its holdings in shares of The Goldman Sachs Group by 1.5% during the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock valued at $653,000 after buying an additional 23 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its position in shares of The Goldman Sachs Group by 1.2% during the second quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock worth $913,000 after buying an additional 23 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were 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 owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Up 1.0 %

GS opened at $478.99 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $154.46 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The business has a 50-day moving average of $490.33 and a 200-day moving average of $450.78. 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 (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 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. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Analysts Set New Price Targets

Several analysts have weighed in on GS shares. Evercore ISI lifted their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Citigroup raised their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Barclays boosted 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. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

About The Goldman Sachs Group

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.