MMA Asset Management LLC Invests $557,000 in The Goldman Sachs Group, Inc. $GS

MMA Asset Management LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 699 shares of the investment management company’s stock, valued at approximately $557,000.

A number of other institutional investors also recently modified their holdings of GS. Norges Bank acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth $2,138,031,000. AGF Management Ltd. grew its stake in shares of The Goldman Sachs Group by 2,429.6% in the 2nd quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock valued at $343,524,000 after buying an additional 466,187 shares during the period. Laurel Wealth Advisors LLC increased its stake in The Goldman Sachs Group by 100,678.6% during the second quarter. Laurel Wealth Advisors LLC now owns 404,122 shares of the investment management company’s stock worth $286,017,000 after acquiring an additional 403,721 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in The Goldman Sachs Group by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,895,752 shares of the investment management company’s stock valued at $1,345,924,000 after buying an additional 291,280 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in The Goldman Sachs Group by 3.6% during the second quarter. Fisher Asset Management LLC now owns 6,539,746 shares of the investment management company’s stock worth $4,628,507,000 after buying an additional 227,604 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about The Goldman Sachs Group

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Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 272 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $938.92, for a total value of $255,386.24. Following the sale, the chief executive officer directly owned 125,527 shares in the company, valued at approximately $117,859,810.84. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kathryn H. Ruemmler sold 9,589 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the sale, the insider directly owned 18,533 shares in the company, valued at $17,189,542.83. This trade represents a 34.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 87,513 shares of company stock worth $83,718,401 in the last three months. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 4.4%

Shares of GS stock opened at $929.47 on Friday. The firm has a market cap of $278.78 billion, a P/E ratio of 18.12, a PEG ratio of 1.09 and a beta of 1.34. The firm’s 50-day simple moving average is $909.26 and its 200-day simple moving average is $815.94. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $984.70. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.30 billion. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.19%. The Goldman Sachs Group’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $11.95 earnings per share. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 2nd will be paid a dividend of $4.50 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.00. This represents a $18.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, March 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 31.20%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Argus increased their price target on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Morgan Stanley dropped their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Dbs Bank increased their price objective on The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Barclays boosted their target price on The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $907.43.

Get Our Latest Analysis on GS

About The Goldman Sachs Group

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

See Also

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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