American Century Companies Inc. Raises Position in The Goldman Sachs Group, Inc. (NYSE:GS)

American Century Companies Inc. grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,764 shares of the investment management company’s stock after purchasing an additional 7,673 shares during the period. American Century Companies Inc.’s holdings in The Goldman Sachs Group were worth $28,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GS. Tower View Investment Management & Research LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $27,000. Elequin Securities LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth $32,000. Worth Asset Management LLC purchased a new position in The Goldman Sachs Group in the 1st quarter worth $33,000. NewSquare Capital LLC raised its stake in The Goldman Sachs Group by 3,433.3% in the 1st quarter. NewSquare Capital LLC now owns 106 shares of the investment management company’s stock worth $35,000 after acquiring an additional 103 shares during the last quarter. Finally, Boulder Wealth Advisors LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 69.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GS. Odeon Capital Group upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $355.75 target price for the company in a research note on Thursday, July 13th. BMO Capital Markets raised their target price on The Goldman Sachs Group from $407.00 to $411.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $347.00 price target (up from $337.00) on shares of The Goldman Sachs Group in a research report on Friday, July 21st. JPMorgan Chase & Co. cut their price target on The Goldman Sachs Group from $415.00 to $398.00 in a research report on Friday, July 7th. Finally, Citigroup downgraded The Goldman Sachs Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $370.00 to $400.00 in a research report on Tuesday, July 25th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $395.63.

The Goldman Sachs Group Trading Up 2.0 %

GS stock opened at $332.50 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.18. The Goldman Sachs Group, Inc. has a 12-month low of $287.75 and a 12-month high of $389.58. The stock has a market cap of $109.62 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.27 and a beta of 1.39. The business’s 50-day moving average is $333.27 and its 200 day moving average is $333.84.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 19th. The investment management company reported $3.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.17). The Goldman Sachs Group had a return on equity of 8.27% and a net margin of 9.74%. The firm had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.61 billion. During the same quarter in the previous year, the firm posted $7.73 earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 25.74 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 3.31%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.50. The ex-dividend date is Wednesday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.66%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total value of $1,496,376.00. Following the transaction, the chief executive officer now directly owns 124,782 shares of the company’s stock, valued at approximately $44,457,330.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Goldman Sachs Group Inc sold 1,145,486 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $11.73, for a total transaction of $13,436,550.78. Following the sale, the insider now owns 50,099,392 shares of the company’s stock, valued at approximately $587,665,868.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David M. Solomon sold 4,200 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the sale, the chief executive officer now directly owns 124,782 shares in the company, valued at approximately $44,457,330.96. The disclosure for this sale can be found here. Insiders have sold 10,159,686 shares of company stock valued at $123,960,027 in the last ninety days. 0.54% of the stock is currently owned by corporate 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 resale agreements.