The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 14.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,369 shares of the investment management company’s stock after selling 16,888 shares during the period. Federated Hermes Inc.’s holdings in The Goldman Sachs Group were worth $44,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth $1,903,374,000. Norges Bank purchased a new position in The Goldman Sachs Group during the fourth quarter worth about $1,120,119,000. AMF Tjanstepension AB boosted its holdings in 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 purchasing an additional 743,402 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after buying an additional 464,954 shares during the period. Finally, Verity & Verity LLC increased its holdings in shares of The Goldman Sachs Group by 26,378.2% during the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after buying an additional 406,224 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Price Performance

GS stock opened at $478.99 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The firm has a market capitalization of $154.46 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.73 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50-day moving average is $490.33 and its two-hundred day moving average is $451.20.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $12.60 billion. Analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction 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 sale 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 that occurred 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 directly 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 corporate insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Barclays boosted their price objective on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI increased their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup lifted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $496.44.

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.