Central Pacific Bank Trust Division Increases Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Central Pacific Bank Trust Division boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 34.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,500 shares of the investment management company’s stock after purchasing an additional 1,650 shares during the period. Central Pacific Bank Trust Division’s holdings in The Goldman Sachs Group were worth $3,218,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on GS. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. BMO Capital Markets upped their price objective 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. Citigroup lifted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Barclays lifted their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $497.56.

Insider Activity

In related news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the 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 completion of the transaction, 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 accessible through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction that occurred 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 directly owns 12,450 shares of the company’s stock, valued at approximately $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 Performance

The Goldman Sachs Group stock opened at $492.11 on Thursday. The firm has a 50 day simple moving average of $492.48 and a 200-day simple moving average of $460.69. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. 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 stock has a market cap of $158.69 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. On average, analysts expect 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. Stockholders of record on Friday, August 30th were paid a $3.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date was Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.44%. The Goldman Sachs Group’s dividend payout ratio is 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.