Mackenzie Financial Corp Sells 34,821 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Mackenzie Financial Corp reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 18.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 154,764 shares of the investment management company’s stock after selling 34,821 shares during the period. Mackenzie Financial Corp’s holdings in The Goldman Sachs Group were worth $70,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after purchasing an additional 338,181 shares during the last quarter. Fisher Asset Management LLC grew its position in The Goldman Sachs Group by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock valued at $2,127,944,000 after acquiring an additional 150,532 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,903,374,000. Finally, Putnam Investments LLC boosted its stake in shares of The Goldman Sachs Group by 3.7% in the 4th quarter. Putnam Investments LLC now owns 2,293,691 shares of the investment management company’s stock valued at $884,837,000 after purchasing an additional 81,168 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 0.3 %

NYSE:GS opened at $498.49 on Friday. The company has a 50-day moving average price of $492.25 and a 200-day moving average price of $458.03. The stock has a market cap of $160.75 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 0.78 and a beta of 1.36. 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, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping 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 business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. Equities analysts predict that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a dividend yield of 2.41%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GS shares. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. 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. Finally, JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Six investment 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

Insider Buying and Selling

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

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.