Intech Investment Management LLC Purchases 6,422 Shares of The Goldman Sachs Group, Inc. $GS

Intech Investment Management LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,624 shares of the investment management company’s stock after purchasing an additional 6,422 shares during the quarter. The Goldman Sachs Group comprises approximately 0.5% of Intech Investment Management LLC’s investment portfolio, making the stock its 28th largest position. Intech Investment Management LLC’s holdings in The Goldman Sachs Group were worth $47,868,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $25,000. Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $31,000. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $29,000. Godsey & Gibb Inc. increased its stake in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Lowe Wealth Advisors LLC increased its stake in shares of The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $763.67 on Wednesday. The company has a fifty day simple moving average of $725.43 and a 200 day simple moving average of $628.27. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $765.62. 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 company has a market cap of $231.18 billion, a P/E ratio of 16.83, a PEG ratio of 1.58 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $8.62 EPS. Sell-side analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s payout ratio is presently 35.26%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research note 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. Morgan Stanley lifted their price objective on shares of 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. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an “outperform” rating in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus target price of $660.00.

Insider Activity

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 over the last quarter. 0.55% of the stock is owned by insiders.

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.