Tocqueville Asset Management L.P. Has $7.26 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)
Tocqueville Asset Management L.P. increased its position in The Goldman Sachs Group, Inc. by 26.7% during the first quarter, according to the company's disclosure with the Securities & Exchange Commission. The institutional investor now owns $7.26 million worth of the company's stock. Several other institutional investors have also added to their stakes in Goldman Sachs. The stock has received positive analyst ratings and is currently trading at $484.93. The company recently announced an increased quarterly dividend of $3.00 per share.
Tocqueville Asset Management L.P. increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 26.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,379 shares of the investment management company's stock after buying an additional 3,663 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in The Goldman Sachs Group were worth $7,259,000 at the end of the most recent quarter.
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A number of other institutional investors have also added to or reduced their stakes in GS. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group during the first quarter worth about $1,903,374,000. Norges Bank bought a new position in The Goldman Sachs Group during the fourth quarter worth about $1,120,119,000. Wellington Management Group LLP lifted its stake in The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company's stock worth $842,597,000 after purchasing an additional 464,954 shares during the period. Verity & Verity LLC lifted its stake in The Goldman Sachs Group by 26,378.2% during the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company's stock worth $170,000 after purchasing an additional 406,224 shares during the period. Finally, Focused Investors Fund L P bought a new position in The Goldman Sachs Group during the first quarter worth about $146,317,000. 71.21% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GS has been the subject of a number of analyst reports. Citigroup raised their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an "overweight" rating in a research note on Tuesday. Argus upgraded shares of The Goldman Sachs Group from a "hold" rating to a "buy" rating and set a $465.00 price target for the company in a research note on Tuesday, April 16th. Bank of America lifted their target price on shares of 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, Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an "outperform" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $480.44.
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Read Our Latest Stock Report on The Goldman Sachs Group
The Goldman Sachs Group Trading Down 0.3 %
GS traded down $1.28 during trading on Friday, reaching $484.93. 2,032,670 shares of the company's stock were exchanged, compared to its average volume of 2,530,821. The company's fifty day moving average price is $463.11 and its 200-day moving average price is $420.75. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $509.48. The firm has a market capitalization of $156.37 billion, a PE ratio of 18.94, a P/E/G ratio of 0.98 and a beta of 1.37.
The Goldman Sachs Group Increases Dividend
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $2.75. The Goldman Sachs Group's payout ratio is currently 46.86%.
Insider Activity
In other news, Director David A. Viniar sold 5,000 shares of the business's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares of the company's stock, valued at approximately $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian J. Lee sold 3,500 shares of the business's stock in a transaction 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 completion of the transaction, the insider now owns 12,095 shares of the company's stock, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Viniar sold 5,000 shares of the business's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the transaction, the director now directly owns 623,425 shares of the company's stock, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Insiders sold 4,018,500 shares of company stock valued at $34,342,615 in the last quarter. Company insiders own 0.54% of the company's stock.
The Goldman Sachs Group Company Profile
(Free Report)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.
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