Tocqueville Asset Management L.P. Purchases 7,628 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Tocqueville Asset Management L.P. raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 23.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 40,496 shares of the investment management company’s stock after acquiring an additional 7,628 shares during the period. Tocqueville Asset Management L.P.’s holdings in The Goldman Sachs Group were worth $22,123,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. King Wealth Management Group grew its position in shares of The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company’s stock valued at $593,000 after buying an additional 19 shares during the last quarter. Wynn Capital LLC grew its position in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company’s stock valued at $3,211,000 after buying an additional 20 shares during the last quarter. 1900 Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company’s stock valued at $425,000 after buying an additional 20 shares during the last quarter. World Equity Group Inc. grew its position in shares of The Goldman Sachs Group by 0.9% in the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company’s stock valued at $1,273,000 after buying an additional 20 shares during the last quarter. Finally, Register Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 2.5% in the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company’s stock valued at $440,000 after buying an additional 20 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup upped their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Morgan Stanley upped their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an “outperform” rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company upped their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $660.00.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Down 2.2%

GS stock opened at $730.50 on Friday. The stock’s 50 day simple moving average is $694.80 and its 200 day simple moving average is $617.85. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $749.05. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $221.14 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.59 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business earned $8.62 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 26.44%.

The Goldman Sachs Group Company 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.