Duff & Phelps Investment Management Co. Sells 3,014 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Duff & Phelps Investment Management Co. cut its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 80.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 753 shares of the investment management company’s stock after selling 3,014 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in The Goldman Sachs Group were worth $341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GS. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $1,903,374,000. AMF Tjanstepension AB increased its stake in shares of The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after buying an additional 743,402 shares during the period. Wellington Management Group LLP increased its stake in shares of The Goldman Sachs Group by 27.0% in the fourth 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. 1832 Asset Management L.P. increased its stake in shares of The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after buying an additional 438,754 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of The Goldman Sachs Group by 878.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after buying an additional 356,512 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Barclays raised their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Citigroup raised their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley raised their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

Insider Activity

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

The Goldman Sachs Group Stock Up 0.3 %

Shares of NYSE:GS opened at $498.51 on Monday. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50 day simple moving average is $492.25 and its two-hundred day simple moving average is $458.99. The firm has a market cap of $160.75 billion, a P/E ratio of 19.47, a PEG ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating 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 company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, August 30th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

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.