Douglas Lane & Associates LLC raised its stake in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,104 shares of the investment management company’s stock after buying an additional 50 shares during the period. Douglas Lane & Associates LLC’s holdings in Goldman Sachs Group, Inc. (The) were worth $245,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter valued at about $7,102,000. Aspen Investment Management Inc increased its stake in shares of Goldman Sachs Group, Inc. (The) by 1.7% in the fourth quarter. Aspen Investment Management Inc now owns 3,004 shares of the investment management company’s stock valued at $719,000 after buying an additional 50 shares during the period. Teachers Advisors LLC increased its stake in shares of Goldman Sachs Group, Inc. (The) by 27.2% in the fourth quarter. Teachers Advisors LLC now owns 1,421,066 shares of the investment management company’s stock valued at $340,274,000 after buying an additional 303,579 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter valued at about $6,426,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter valued at about $2,867,000. 73.86% of the stock is currently owned by institutional investors.
Goldman Sachs Group, Inc. (NYSE GS) traded up 2.59% during midday trading on Friday, hitting $229.79. 3,400,343 shares of the stock traded hands. Goldman Sachs Group, Inc. has a 1-year low of $156.18 and a 1-year high of $255.15. The firm has a market cap of $88.90 billion, a P/E ratio of 12.09 and a beta of 1.42. 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. (The) (NYSE:GS) last posted its earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.39 by $0.56. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.25%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.72 earnings per share. Analysts predict that Goldman Sachs Group, Inc. will post $18.19 EPS for the current year.
Goldman Sachs Group, Inc. (The) declared that its board has approved a share buyback plan on Tuesday, April 18th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.31%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio (DPR) is presently 15.74%.
Several analysts have issued reports on GS shares. Royal Bank Of Canada reduced their price target on shares of Goldman Sachs Group, Inc. (The) to $250.00 and set a “neutral” rating on the stock in a report on Tuesday, April 18th. Rafferty Capital Markets downgraded shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and reduced their price target for the company from $288.00 to $221.00 in a report on Tuesday, April 18th. Citigroup Inc. raised shares of Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating and set a $225.00 price objective on the stock in a research note on Wednesday, April 19th. Credit Suisse Group reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Wednesday, April 19th. Finally, Bank of America Corporation reduced their price objective on shares of Goldman Sachs Group, Inc. (The) from $275.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $235.25.
In other Goldman Sachs Group, Inc. (The) news, Director David A. Viniar sold 4,590 shares of Goldman Sachs Group, Inc. (The) stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $227.79, for a total value of $1,045,556.10. Following the completion of the sale, the director now directly owns 854,925 shares in the company, valued at $194,743,365.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.57% of the stock is owned by insiders.
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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