Envestnet Asset Management Inc. increases stake in Goldman Sachs Group, Inc. (NYSE:GS)

Envestnet Asset Management Inc. increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 14.7% during the second 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 acquiring an additional 55,005 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of The Goldman Sachs Group worth $194,375,000 at the end of the most recent reporting period.

Several other institutional investors have recently made changes to their positions in GS. Aveo Capital Partners LLC grew 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 bought another 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 which bought 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 buying another 130 shares in the last quarter. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $1,120,119,000. Finally, Clearbridge Investments LLC grew 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 USD after buying an additional 1,998 shares in the last quarter. 71.21% of the shares are currently held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Several research firms 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 upped their price target 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 price target 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. The stock currently has an average rating of “Moderate Buy” and an average target price of $496.44, according to MarketBeat .

Get the latest report on GS

Transactions within 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 shares were 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other 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 filing with the SEC, which can be accessed via this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the business’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 hold 0.54% of the company’s shares.

Goldman Sachs Group trades 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. 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.

Goldman Sachs Group (NYSE:GS – Get Free Report ) last posted 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. 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.

Goldman Sachs Group increased dividends

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 paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30. This represents a dividend of $12.00 on an annualized basis and a dividend yield of 2.51%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $2.75. Goldman Sachs Group’s payout ratio is currently 46.86%.

About the Goldman Sachs Group

(Free report)

Goldman Sachs Group, Inc, a financial institution, provides a wide range of financial services to 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 loans and acquisition financing, as well as secured loans, through structured credit and asset-backed loans and involved in financing under securities resale agreements.

See Also

Want to see what other hedge funds own GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for The Goldman Sachs Group, Inc. (NYSE:GS – Free Report).

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