SRN Advisors LLC Raises Position in The Goldman Sachs Group, Inc. (NYSE:GS)

SRN Advisors LLC increased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,022 shares of the investment management company’s stock after acquiring an additional 448 shares during the period. SRN Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in The Goldman Sachs Group by 6.0% in the 4th 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 last quarter. Fisher Asset Management LLC raised its stake in The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after acquiring an additional 152,474 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in The Goldman Sachs Group by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after purchasing an additional 27,524 shares during the period. Price T Rowe Associates Inc. MD grew its position in The Goldman Sachs Group by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after purchasing an additional 274,989 shares during the period. Finally, Bank of New York Mellon Corp grew its position in The Goldman Sachs Group by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock worth $2,044,980,000 after purchasing an additional 141,538 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday. Morgan Stanley increased their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, UBS Group raised their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Price Performance

GS stock traded down $29.48 during trading on Friday, hitting $470.64. The stock had a trading volume of 6,115,462 shares, compared to its average volume of 2,606,533. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $517.26. The stock has a market capitalization of $151.76 billion, a P/E ratio of 18.38, a PEG ratio of 0.99 and a beta of 1.37. The company’s 50-day moving average price is $469.30 and its two-hundred day moving average price is $428.76.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.55%. This is a boost 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%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following 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 Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 sale, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders have sold 4,013,500 shares of company stock valued at $32,181,365 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

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.