Envestnet Asset Management Inc. Raises Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Envestnet Asset Management Inc. grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 429,728 shares of the investment management company’s stock after purchasing an additional 55,005 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of The Goldman Sachs Group worth $194,375,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GS. Aveo Capital Partners LLC boosted its position in shares of The Goldman Sachs Group by 8.2% during the 4th quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock worth $269,000 after purchasing an additional 53 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of The Goldman Sachs Group by 1.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,699 shares of the investment management company’s stock worth $1,427,000 after purchasing an additional 62 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of The Goldman Sachs Group by 7.3% during the 4th quarter. Financial Advocates Investment Management now owns 1,918 shares of the investment management company’s stock worth $740,000 after purchasing an additional 130 shares in the last quarter. Norges Bank acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth $1,120,119,000. Finally, Clearbridge Investments LLC raised its stake in shares of The Goldman Sachs Group by 1.1% during the 4th quarter. Clearbridge Investments LLC now owns 189,162 shares of the investment management company’s stock worth $72,973,000 after buying an additional 1,998 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GS. Keefe, Bruyette & Woods lifted their price target 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. Barclays boosted their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. UBS Group boosted their target price on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $496.44.

Insider Transactions at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’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 transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was 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 approximately $6,287,748. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 1.0 %

NYSE GS opened at $478.99 on Monday. 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 Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. The company has a market cap 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 50-day moving average of $490.33 and a 200-day moving average of $451.61.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

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 issued 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 a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is presently 46.86%.

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.