Grassi Investment Management Acquires 10,780 Shares of Goldman Sachs Group Inc (GS)
Grassi Investment Management grew its holdings in Goldman Sachs Group Inc (NYSE:GS) by 44.1% in the 1st quarter, HoldingsChannel reports. The fund owned 35,240 shares of the investment management company’s stock after purchasing an additional 10,780 shares during the quarter. Grassi Investment Management’s holdings in Goldman Sachs Group were worth $6,766,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Belpointe Asset Management LLC boosted its holdings in shares of Goldman Sachs Group by 10.6% during the 4th quarter. Belpointe Asset Management LLC now owns 3,465 shares of the investment management company’s stock worth $579,000 after buying an additional 333 shares during the period. Legal & General Group Plc raised its stake in Goldman Sachs Group by 6.8% during the 4th quarter. Legal & General Group Plc now owns 1,739,119 shares of the investment management company’s stock valued at $290,444,000 after purchasing an additional 110,588 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in Goldman Sachs Group by 29.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 199,139 shares of the investment management company’s stock valued at $32,466,000 after purchasing an additional 45,206 shares during the last quarter. Morgan Stanley raised its stake in Goldman Sachs Group by 1.7% during the 3rd quarter. Morgan Stanley now owns 3,257,484 shares of the investment management company’s stock valued at $730,458,000 after purchasing an additional 52,899 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. raised its stake in Goldman Sachs Group by 9.7% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 666 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 59 shares during the last quarter. 70.11% of the stock is owned by institutional investors.
Shares of GS stock opened at $202.98 on Thursday. Goldman Sachs Group Inc has a 52-week low of $151.70 and a 52-week high of $262.50. The firm has a market capitalization of $73.58 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.84.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 28th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Wednesday, February 27th. Goldman Sachs Group’s dividend payout ratio is 12.66%.
In other news, EVP Dane E. Holmes sold 1,489 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.
Several equities analysts recently commented on the stock. BMO Capital Markets reiterated a “hold” rating on shares of Goldman Sachs Group in a research note on Monday, January 21st. Zacks Investment Research cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Wednesday. HSBC set a $202.00 target price on shares of Goldman Sachs Group and gave the company a “neutral” rating in a research note on Thursday, April 4th. Oppenheimer upped their target price on shares of Goldman Sachs Group from $257.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, January 17th. Finally, ValuEngine cut shares of Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $251.08.
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Goldman Sachs Group Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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