The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 105,146 shares of the investment management company’s stock after selling 10,979 shares during the period. State of New Jersey Common Pension Fund D’s holdings in The Goldman Sachs Group were worth $57,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Brighton Jones LLC increased its stake in The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after acquiring an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in The Goldman Sachs Group during the fourth quarter worth about $583,000. Highview Capital Management LLC DE increased its stake in The Goldman Sachs Group by 4.7% during the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company’s stock worth $2,186,000 after acquiring an additional 171 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of The Goldman Sachs Group by 7.3% in the fourth quarter. NewEdge Advisors LLC now owns 23,523 shares of the investment management company’s stock valued at $13,470,000 after buying an additional 1,595 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,079 shares of company stock valued at $14,423,221. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GS. JMP Securities reiterated a “market perform” rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley increased their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an “outperform” rating in a research note on Thursday, July 10th. One 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, the company currently has an average rating of “Hold” and an average target price of $660.00.

The Goldman Sachs Group Trading Up 0.4%

Shares of NYSE GS opened at $747.64 on Friday. The company has a market cap of $226.32 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $748.91. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock’s 50 day simple moving average is $692.48 and its 200 day simple moving average is $617.21.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $8.62 EPS. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 26.44%.

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.