State of Alaska Department of Revenue boosted its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,152 shares of the investment management company’s stock after buying an additional 1,023 shares during the quarter. State of Alaska Department of Revenue’s holdings in Goldman Sachs Group were worth $11,469,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in shares of Goldman Sachs Group by 7,719.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after purchasing an additional 23,157 shares during the period. Zions Bancorporation acquired a new position in shares of Goldman Sachs Group in the 2nd quarter valued at about $109,000. First Mercantile Trust Co. acquired a new position in shares of Goldman Sachs Group in the 2nd quarter valued at about $110,000. Squar Milner Financial Services LLC acquired a new position in shares of Goldman Sachs Group in the 2nd quarter valued at about $157,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Goldman Sachs Group in the 2nd quarter valued at about $176,000. 70.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Goldman Sachs Group stock opened at $214.89 on Thursday. Goldman Sachs Group Inc has a one year low of $214.56 and a one year high of $275.31. The stock has a market capitalization of $84.66 billion, a P/E ratio of 10.88, a PEG ratio of 0.72 and a beta of 1.28. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.90 and a quick ratio of 0.90.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Thursday, August 30th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, August 29th. Goldman Sachs Group’s payout ratio is 16.19%.
A number of brokerages have recently issued reports on GS. ValuEngine downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Tuesday, June 19th. Keefe, Bruyette & Woods dropped their price objective on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating on the stock in a research note on Wednesday, July 18th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $280.00 price objective on shares of Goldman Sachs Group in a research note on Tuesday, July 17th. Finally, Wolfe Research began coverage on Goldman Sachs Group in a research note on Tuesday, September 25th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $275.08.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,382 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total transaction of $1,945,294.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Solomon sold 8,488 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total value of $2,019,464.96. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.
Goldman Sachs Group Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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