Massachusetts Financial Services Co. MA Sells 312,129 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Massachusetts Financial Services Co. MA lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,412,605 shares of the investment management company’s stock after selling 312,129 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in The Goldman Sachs Group were worth $1,995,909,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the second quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $27,000. First Personal Financial Services bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $25,000. SJS Investment Consulting Inc. lifted its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC boosted its position in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.0 %

The Goldman Sachs Group stock opened at $478.99 on Monday. The firm has a market cap of $154.46 billion, a PE ratio of 18.70, a P/E/G ratio of 0.73 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. The stock’s 50 day simple moving average is $490.33 and its two-hundred day simple moving average is $451.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. Analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $3.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.51%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Citigroup increased their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

The Goldman Sachs Group 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.