Investment Management Corp of Ontario Purchases 610 Shares of The Goldman Sachs Group, Inc. $GS

Investment Management Corp of Ontario increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,475 shares of the investment management company’s stock after buying an additional 610 shares during the quarter. Investment Management Corp of Ontario’s holdings in The Goldman Sachs Group were worth $29,425,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dagco Inc. bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $25,000. Manning & Napier Advisors LLC grew its stake in The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Cornerstone Financial Management LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $33,000. Finally, Entrust Financial LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $34,000. 71.21% of the stock is currently owned by institutional investors.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs crossed $1 trillion in year-to-date M&A advisory volume, signaling unusually strong deal activity and supporting expectations for higher investment banking fees. Goldman Sachs shatters dealmaking records with $1 trillion in first-half M&A volume
• Positive Sentiment: Goldman was named lead underwriter for the high-profile SpaceX IPO, which could bring in additional underwriting and capital markets revenue while highlighting its franchise strength. Goldman Sachs (GS) Lands SpaceX IPO Lead As New Listings Come Back Into Focus
• Positive Sentiment: Additional coverage noted that the $1 trillion M&A mark and improved dealmaking trends could help Goldman’s advisory fee growth and support investor optimism around a broader capital markets rebound. GS Crosses $1T in M&A Deals: Catalyst for Advisory Fee Growth?
• Neutral Sentiment: Goldman Sachs also appeared in several unrelated political and market-news items, including congressional bill coverage and broader energy-market commentary, but those items are not direct drivers of GS shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on GS shares. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $826.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Citigroup raised their price target on The Goldman Sachs Group from $765.00 to $930.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Rothschild & Co Redburn raised their price target on The Goldman Sachs Group from $839.00 to $870.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Evercore decreased their price target on The Goldman Sachs Group from $1,075.00 to $950.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Finally, CICC Research raised their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $941.82.

Insiders Place Their Bets

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $1,099.16 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a 12 month low of $623.65 and a 12 month high of $1,121.94. The stock has a 50 day moving average of $970.74 and a 200-day moving average of $916.56. The company has a market capitalization of $324.26 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.41 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company had revenue of $17.23 billion during the quarter, compared to the consensus estimate of $16.66 billion. During the same period in the previous year, the company posted $14.12 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 59.48 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be paid a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group’s payout ratio is currently 32.89%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.