Toronto Dominion Bank Trims Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Toronto Dominion Bank cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 64.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,026 shares of the investment management company’s stock after selling 229,762 shares during the quarter. Toronto Dominion Bank’s holdings in The Goldman Sachs Group were worth $53,893,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. First Personal Financial Services bought a new stake in The Goldman Sachs Group during the first quarter valued at $25,000. First United Bank & Trust purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $26,000. Versant Capital Management Inc increased its holdings in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the period. Pineridge Advisors LLC purchased a new position in The Goldman Sachs Group during the 4th quarter valued at about $29,000. Finally, BKM Wealth Management LLC purchased a new position in The Goldman Sachs Group during the 4th quarter valued at about $32,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 1.5 %

Shares of GS traded up $7.32 during mid-day trading on Friday, reaching $499.03. The company had a trading volume of 1,931,189 shares, compared to its average volume of 2,313,692. The company has a market capitalization of $160.92 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $509.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12. The firm has a 50-day moving average price of $466.04 and a 200 day moving average price of $424.42.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.40%. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. JMP Securities boosted their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley upped their target price on The Goldman Sachs Group from $475.00 to $513.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $484.59.

Insider Activity at The Goldman Sachs Group

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,018,500 shares of company stock valued at $34,342,615. 0.54% of the stock is owned by corporate 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.