First Interstate Bank Sells 331 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

First Interstate Bank lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,472 shares of the investment management company’s stock after selling 331 shares during the quarter. First Interstate Bank’s holdings in The Goldman Sachs Group were worth $5,189,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital World Investors grew its holdings in shares of The Goldman Sachs Group by 6.0% during 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 purchasing an additional 338,181 shares in the last quarter. Fisher Asset Management LLC increased its holdings in The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock valued at $2,127,944,000 after buying an additional 150,532 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of The Goldman Sachs Group by 5.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after buying an additional 274,989 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 acquiring an additional 141,538 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,903,374,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GS has been the subject of a number of analyst reports. Oppenheimer raised their price target on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Barclays raised their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Citigroup upped their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley increased their target price on shares of 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $496.44.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $488.57 on Tuesday. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The firm’s 50 day moving average is $489.83 and its 200-day moving average is $449.31. The firm has a market capitalization of $157.55 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.74 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.49 EPS for the current fiscal year.

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 given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.46%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 3,500 shares of the business’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 transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the 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 transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. In the last three months, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group 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.