The Goldman Sachs Group, Inc. (NYSE:GS) Director Sells $5,050,400.00 in Stock

The Goldman Sachs Group, Inc. (NYSE:GS) Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $484.93 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $463.11 and a 200 day simple moving average of $420.97. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $509.48. The firm has a market cap of $156.37 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.98 and a beta of 1.37.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Hedge Funds Weigh In On The Goldman Sachs Group

Several large investors have recently made changes to their positions in the company. Capital World Investors boosted its stake in The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after acquiring an additional 338,181 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after purchasing an additional 152,474 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of The Goldman Sachs Group by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after purchasing an additional 27,524 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in The Goldman Sachs Group by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after purchasing an additional 274,989 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in The Goldman Sachs Group by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock valued at $2,044,980,000 after buying an additional 141,538 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GS. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Royal Bank of Canada upped their target price on shares of The Goldman Sachs Group from $435.00 to $500.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. UBS Group raised their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Citigroup upped their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.59.

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.