Sumitomo Life Insurance Co. Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Sumitomo Life Insurance Co. boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,643 shares of the investment management company’s stock after buying an additional 84 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in The Goldman Sachs Group were worth $1,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group during the first quarter worth $1,903,374,000. AMF Tjanstepension AB boosted its holdings in shares of The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after buying an additional 743,402 shares during the period. 1832 Asset Management L.P. grew its position in shares of The Goldman Sachs Group by 7,932.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after buying an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after acquiring an additional 356,512 shares during the period. Finally, Swedbank AB bought a new position in The Goldman Sachs Group in the first quarter worth about $137,134,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GS. Morgan Stanley increased their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup increased their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Stock Up 1.4 %

Shares of GS stock opened at $529.86 on Thursday. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The business’s fifty day moving average is $496.53 and its 200-day moving average is $467.83. The stock has a market cap of $170.86 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.26%. The Goldman Sachs Group’s payout ratio is presently 46.86%.

The Goldman Sachs Group Company Profile

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.