Massachusetts Financial Services Co. MA Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Massachusetts Financial Services Co. MA lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,412,605 shares of the investment management company’s stock after selling 312,129 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.37% of The Goldman Sachs Group worth $1,995,909,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group during the first quarter valued at $1,903,374,000. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $1,120,119,000. AMF Tjanstepension AB grew its stake in shares of The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares during the period. Wellington Management Group LLP increased its holdings in The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after acquiring an additional 464,954 shares in the last quarter. Finally, Verity & Verity LLC raised its stake in The Goldman Sachs Group by 26,378.2% during the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after acquiring an additional 406,224 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 1.0 %

Shares of NYSE GS opened at $478.99 on Monday. 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 firm’s 50-day moving average price is $490.33 and its 200-day moving average price is $451.61. The stock has a market capitalization of $154.46 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.51%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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 raised their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Wells Fargo & Company upped their price objective 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. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Morgan Stanley upped their price target 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. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $496.44.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated 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 directly 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 SEC, which is available through the SEC website. In related news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Company 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.