State of Tennessee Treasury Department Has $61.72 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

State of Tennessee Treasury Department raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.6% in the fourth quarter, HoldingsChannel reports. The fund owned 159,980 shares of the investment management company’s stock after purchasing an additional 7,035 shares during the quarter. State of Tennessee Treasury Department’s holdings in The Goldman Sachs Group were worth $61,715,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $1,120,119,000. Morgan Stanley boosted its position in shares of The Goldman Sachs Group by 7.8% during the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after buying an additional 412,383 shares during the last quarter. Capital World Investors lifted its holdings in The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after acquiring an additional 338,181 shares during the period. Bank of Nova Scotia lifted its holdings in The Goldman Sachs Group by 231.1% during the fourth quarter. Bank of Nova Scotia now owns 427,640 shares of the investment management company’s stock worth $164,964,000 after acquiring an additional 298,479 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in The Goldman Sachs Group by 17.5% during the third quarter. Wellington Management Group LLP now owns 1,719,242 shares of the investment management company’s stock worth $556,295,000 after acquiring an additional 255,690 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on The Goldman Sachs Group from $479.00 to $517.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a report on Tuesday, April 16th. Bank of America boosted their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, JMP Securities boosted their target price on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $440.57.

The Goldman Sachs Group Price Performance

Shares of GS traded down $3.19 during midday trading on Friday, reaching $454.91. The stock had a trading volume of 1,736,189 shares, compared to its average volume of 2,004,698. The company’s 50-day moving average is $435.52 and its 200 day moving average is $399.38. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $471.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $146.69 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. During the same period in the prior year, the business earned $8.79 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 36.57 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Insider Activity at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares in the company, valued at approximately $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.