Goldman Sachs Group Inc
recently disclosed that they own a 4.8% stake in Goldman Sachs Group, Inc. (The) (NYSE:GS) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, July 19th. The investor owns 18,701,019 shares of the stock valued at approximately $4,181,734,859. The reporting parties listed on the disclosure included Each of the persons identified on Appendix A, Not found and restates in its entirety such Schedule 13D (as so amended and restated, this. The filing is available through EDGAR at this hyperlink.
Goldman Sachs Group Inc
provided the following explanation of their ownership:
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Several other large investors have also added to or reduced their stakes in GS. Reilly Financial Advisors LLC raised its stake in Goldman Sachs Group, Inc. (The) by 3.7% in the second quarter. Reilly Financial Advisors LLC now owns 46,111 shares of the investment management company’s stock valued at $10,232,000 after buying an additional 1,653 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in Goldman Sachs Group, Inc. (The) during the second quarter valued at about $407,000. Douglas Lane & Associates LLC raised its stake in Goldman Sachs Group, Inc. (The) by 4.7% in the second quarter. Douglas Lane & Associates LLC now owns 1,104 shares of the investment management company’s stock valued at $245,000 after buying an additional 50 shares in the last quarter. Aperio Group LLC raised its stake in Goldman Sachs Group, Inc. (The) by 8.7% in the second quarter. Aperio Group LLC now owns 184,204 shares of the investment management company’s stock valued at $40,875,000 after buying an additional 14,770 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in Goldman Sachs Group, Inc. (The) during the second quarter valued at about $1,052,000. 74.20% of the stock is owned by hedge funds and other institutional investors.
Goldman Sachs Group, Inc. (GS) traded up 0.96% during midday trading on Friday, hitting $223.61. The company had a trading volume of 2,483,233 shares. The firm has a 50-day moving average price of $223.79 and a 200-day moving average price of $230.40. Goldman Sachs Group, Inc. has a 12 month low of $155.37 and a 12 month high of $255.15. The company has a market cap of $90.09 billion, a price-to-earnings ratio of 11.72 and a beta of 1.42.
Goldman Sachs Group, Inc. (The) (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 18th. The investment management company reported $3.95 EPS for the quarter, beating the Zacks’ consensus estimate of $3.39 by $0.56. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.47 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.25% and a net margin of 26.44%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.72 earnings per share. Equities analysts anticipate that Goldman Sachs Group, Inc. will post $18.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio is currently 15.74%.
Goldman Sachs Group, Inc. (The) announced that its Board of Directors has approved a share buyback plan on Tuesday, April 18th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the investment management company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a report on Tuesday. UBS AG lowered shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating and increased their target price for the stock from $220.19 to $230.00 in a report on Monday, July 24th. Berenberg Bank reaffirmed a “sell” rating and set a $190.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a report on Friday, July 21st. Oppenheimer Holdings, Inc. increased their price objective on shares of Goldman Sachs Group, Inc. (The) from $251.00 to $256.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods lowered shares of Goldman Sachs Group, Inc. (The) from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $260.00 to $240.00 in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $235.25.
About Goldman Sachs Group, Inc. (The)
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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