Citizens Financial Group Inc. RI increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 31.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,467 shares of the investment management company’s stock after purchasing an additional 14,785 shares during the quarter. The Goldman Sachs Group accounts for approximately 0.7% of Citizens Financial Group Inc. RI’s holdings, making the stock its 26th biggest position. Citizens Financial Group Inc. RI’s holdings in The Goldman Sachs Group were worth $52,000,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. Vanguard Group Inc. increased its stake in shares of The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after acquiring an additional 418,820 shares during the period. State Street Corp raised its holdings in The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after purchasing an additional 394,198 shares in the last quarter. Fisher Asset Management LLC lifted its position in The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after purchasing an additional 110,134 shares during the period. Geode Capital Management LLC boosted its holdings in The Goldman Sachs Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after purchasing an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in The Goldman Sachs Group by 3.4% in the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock valued at $5,254,692,000 after purchasing an additional 194,109 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.
The Goldman Sachs Group Price Performance
GS stock traded up $0.07 during midday trading on Friday, hitting $1,056.04. 1,110,031 shares of the stock were exchanged, compared to its average volume of 1,972,365. The stock’s 50-day moving average price is $1,017.99 and its 200-day moving average price is $938.64. The stock has a market cap of $311.54 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.35 and a beta of 1.30. The Goldman Sachs Group, Inc. has a fifty-two week low of $691.30 and a fifty-two week high of $1,125.00. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63.
The Goldman Sachs Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is presently 32.89%.
Trending Headlines about The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
- Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
- Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
- Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
- Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Dbs Bank increased their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. CICC Research increased their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Oppenheimer downgraded The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $986.91.
Check Out Our Latest Research Report on The Goldman Sachs Group
Insider Buying and Selling at The Goldman Sachs Group
In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the transaction, the chief accounting officer owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,681 shares of company stock valued at $31,737,875 in the last quarter. Insiders own 0.55% of the company’s stock.
The Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.
Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.
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