Industrial Alliance Investment Management Inc. Sells 1,276 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Industrial Alliance Investment Management Inc. decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 90.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133 shares of the investment management company’s stock after selling 1,276 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in The Goldman Sachs Group were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have 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 1st quarter worth $25,000. First United Bank & Trust bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $26,000. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $26,000. Versant Capital Management Inc raised its holdings in The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the period. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GS shares. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Barclays upped their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Morgan Stanley raised their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Oppenheimer upped their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $495.94.

Insider Activity

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a legal filing 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 Goldman Sachs Group stock in a transaction that occurred 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 in the company, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock worth $32,181,365 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Up 0.6 %

NYSE GS traded up $3.13 on Friday, hitting $510.25. 1,820,888 shares of the company were exchanged, compared to its average volume of 2,274,769. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The company has a market cap of $164.54 billion, a PE ratio of 19.92, a PEG ratio of 0.99 and a beta of 1.37. The stock has a fifty day moving average of $484.49 and a 200-day moving average of $443.16. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.26%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. 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. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.