Heritage Investors Management Corp Sells 1,278 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Heritage Investors Management Corp lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.0% during the 1st quarter, Holdings Channel reports. The firm owned 61,453 shares of the investment management company’s stock after selling 1,278 shares during the quarter. The Goldman Sachs Group comprises approximately 1.2% of Heritage Investors Management Corp’s investment portfolio, making the stock its 22nd largest holding. Heritage Investors Management Corp’s holdings in The Goldman Sachs Group were worth $33,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC lifted its stake in shares of The Goldman Sachs Group by 1.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company’s stock worth $950,000 after acquiring an additional 18 shares during the period. Wynn Capital LLC raised its holdings in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company’s stock worth $3,211,000 after purchasing an additional 20 shares in the last quarter. 1900 Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company’s stock worth $425,000 after purchasing an additional 20 shares in the last quarter. World Equity Group Inc. raised its holdings in shares of The Goldman Sachs Group by 0.9% in the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company’s stock worth $1,273,000 after purchasing an additional 20 shares in the last quarter. Finally, Register Financial Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 2.5% in the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company’s stock worth $440,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. HSBC reiterated a “reduce” rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Daiwa America lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Finally, Citigroup dropped their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $649.29.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $708.31 on Friday. The company has a 50-day moving average of $647.01 and a 200-day moving average of $601.08. The company has a market capitalization of $217.34 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.96 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $726.00. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $8.62 EPS. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.26%.

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.