Levin Capital Strategies L.P. Acquires 7,301 Shares of The Goldman Sachs Group, Inc. $GS

Levin Capital Strategies L.P. raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 912.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,101 shares of the investment management company’s stock after buying an additional 7,301 shares during the quarter. Levin Capital Strategies L.P.’s holdings in The Goldman Sachs Group were worth $6,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Audent Global Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 10.1% during the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after acquiring an additional 479 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in The Goldman Sachs Group by 3.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company’s stock worth $189,409,000 after purchasing an additional 8,154 shares during the last quarter. Oak Grove Capital LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at $1,890,000. Nomura Asset Management Co. Ltd. raised its stake in The Goldman Sachs Group by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company’s stock valued at $124,809,000 after purchasing an additional 3,653 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in The Goldman Sachs Group by 35.0% during the fourth quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company’s stock valued at $10,499,000 after purchasing an additional 3,098 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

Analysts Set New Price Targets

GS has been the subject of a number of recent research reports. Dbs Bank lifted their price objective on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. UBS Group upped their target price on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. CICC Research lifted their price target 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. Finally, HSBC boosted their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1,061.43.

Get Our Latest Stock Analysis on The Goldman Sachs Group

The Goldman Sachs Group Trading Up 1.2%

GS stock opened at $1,098.86 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The Goldman Sachs Group, Inc. has a twelve month low of $694.05 and a twelve month high of $1,153.99. The stock has a market capitalization of $324.17 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30. The firm’s fifty day simple moving average is $1,043.02 and its two-hundred day simple moving average is $950.03.

The Goldman Sachs Group (NYSE:GSGet Free Report) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The firm had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the business earned $10.91 EPS. The business’s revenue was up 39.4% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 68.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $5.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio is currently 27.78%.

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,450 shares of company stock valued at $29,668,201 over the last 90 days. Insiders own 0.55% of the company’s stock.

About The Goldman Sachs Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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