State of Michigan Retirement System increased its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 8.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 79,083 shares of the investment management company’s stock after acquiring an additional 6,033 shares during the period. State of Michigan Retirement System’s holdings in Goldman Sachs Group were worth $15,628,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its position in shares of Goldman Sachs Group by 8.3% during the second quarter. Aviance Capital Partners LLC now owns 12,918 shares of the investment management company’s stock worth $2,553,000 after purchasing an additional 995 shares in the last quarter. Wellington Management Group LLP grew its holdings in Goldman Sachs Group by 118.3% during the 1st quarter. Wellington Management Group LLP now owns 101,098 shares of the investment management company’s stock valued at $15,629,000 after buying an additional 54,794 shares in the last quarter. Brave Asset Management Inc. grew its holdings in Goldman Sachs Group by 19.6% during the 2nd quarter. Brave Asset Management Inc. now owns 3,784 shares of the investment management company’s stock valued at $748,000 after buying an additional 620 shares in the last quarter. Telemus Capital LLC grew its holdings in Goldman Sachs Group by 121.9% during the 2nd quarter. Telemus Capital LLC now owns 5,462 shares of the investment management company’s stock valued at $1,123,000 after buying an additional 3,000 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Goldman Sachs Group by 15.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 73,851 shares of the investment management company’s stock valued at $14,594,000 after buying an additional 10,002 shares in the last quarter. Hedge funds and other institutional investors own 68.02% of the company’s stock.

Shares of GS stock traded down $1.57 on Friday, reaching $197.96. 2,401,074 shares of the company’s stock were exchanged, compared to its average volume of 3,834,824. Goldman Sachs Group Inc has a 52 week low of $130.85 and a 52 week high of $250.46. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $68.62 billion, a PE ratio of 10.50, a P/E/G ratio of 4.61 and a beta of 1.46. The company’s fifty day simple moving average is $202.93 and its 200 day simple moving average is $199.51.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, July 15th. The investment management company reported $6.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.78 by $2.48. Goldman Sachs Group had a return on equity of 8.71% and a net margin of 13.40%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $9.76 billion. During the same period last year, the company earned $5.81 EPS. Goldman Sachs Group’s quarterly revenue was up 40.5% compared to the same quarter last year. As a group, sell-side analysts predict that Goldman Sachs Group Inc will post 18.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, August 31st. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.

Several research firms have weighed in on GS. Barclays raised their price target on Goldman Sachs Group from $236.00 to $253.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Societe Generale upgraded Goldman Sachs Group from a “sell” rating to a “buy” rating in a report on Tuesday, April 14th. JMP Securities cut their price target on Goldman Sachs Group from $290.00 to $270.00 and set a “market outperform” rating for the company in a report on Thursday, April 9th. Royal Bank of Canada raised their price target on Goldman Sachs Group from $200.00 to $225.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Finally, Citigroup lifted their target price on Goldman Sachs Group from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $242.57.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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.

Further Reading: Understanding Specialty Certificates of Deposit

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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