Global X Management Co. LLC boosted its stake in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) by 30.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,526 shares of the investment management company’s stock after buying an additional 593 shares during the period. Global X Management Co. LLC’s holdings in Goldman Sachs Group, Inc. (The) were worth $580,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in GS. YorkBridge Wealth Partners LLC increased its position in Goldman Sachs Group, Inc. (The) by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 640 shares of the investment management company’s stock valued at $144,000 after buying an additional 2 shares during the last quarter. Quadrant Capital Group LLC increased its position in Goldman Sachs Group, Inc. (The) by 11.5% in the first quarter. Quadrant Capital Group LLC now owns 875 shares of the investment management company’s stock valued at $192,000 after buying an additional 90 shares during the last quarter. Cheviot Value Management LLC purchased a new position in Goldman Sachs Group, Inc. (The) during the first quarter valued at $203,000. Wealthsource Partners LLC purchased a new position in Goldman Sachs Group, Inc. (The) during the first quarter valued at $207,000. Finally, Haverford Trust Co. purchased a new position in Goldman Sachs Group, Inc. (The) during the first quarter valued at $210,000. 73.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Goldman Sachs Group, Inc. (NYSE GS) traded up 0.85% on Friday, reaching $225.90. The company had a trading volume of 260,578 shares. The company has a 50 day moving average price of $224.01 and a 200 day moving average price of $229.94. Goldman Sachs Group, Inc. has a 52-week low of $156.18 and a 52-week high of $255.15. The stock has a market capitalization of $91.01 billion, a PE ratio of 11.84 and a beta of 1.42.
Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 18th. The investment management company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.25%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same period in the previous year, the company posted $3.72 EPS. Goldman Sachs Group, Inc. (The)’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Goldman Sachs Group, Inc. will post $18.19 earnings per share for the current year.
Goldman Sachs Group, Inc. (The) declared that its board has approved a stock repurchase plan on Tuesday, April 18th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the investment management company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio is currently 15.74%.
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Several equities analysts recently weighed in on the company. BidaskClub downgraded Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Buckingham Research reaffirmed a “neutral” rating and issued a $243.00 price objective (up from $235.00) on shares of Goldman Sachs Group, Inc. (The) in a research note on Monday, July 10th. Berenberg Bank reaffirmed a “sell” rating and issued a $190.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a research note on Friday, July 21st. Credit Suisse Group raised their price objective on Goldman Sachs Group, Inc. (The) from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, Vetr raised Goldman Sachs Group, Inc. (The) from a “strong sell” rating to a “sell” rating and set a $189.07 price objective for the company in a research note on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Goldman Sachs Group, Inc. (The) presently has an average rating of “Hold” and a consensus price target of $235.25.
In other news, Director David A. Viniar sold 4,590 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $227.79, for a total transaction of $1,045,556.10. Following the transaction, the director now directly owns 854,925 shares in the company, valued at approximately $194,743,365.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.57% of the company’s stock.
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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