Steinberg Global Asset Management continued to hold its position in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,108 shares of the investment management company’s stock at the end of the first quarter. Steinberg Global Asset Management’s holdings in Goldman Sachs Group, Inc. (The) were worth $255,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Goldman Sachs Group, Inc. (The) by 6.4% in the first quarter. Wells Fargo & Company MN now owns 2,177,944 shares of the investment management company’s stock worth $500,319,000 after buying an additional 130,825 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Goldman Sachs Group, Inc. (The) by 9.6% in the first quarter. Ameriprise Financial Inc. now owns 1,743,758 shares of the investment management company’s stock worth $400,509,000 after buying an additional 152,507 shares during the period. Teachers Advisors LLC boosted its position 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 worth $340,274,000 after buying an additional 303,579 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Goldman Sachs Group, Inc. (The) by 8.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,233,388 shares of the investment management company’s stock worth $283,334,000 after buying an additional 91,199 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Goldman Sachs Group, Inc. (The) by 130.3% in the first quarter. Canada Pension Plan Investment Board now owns 863,464 shares of the investment management company’s stock worth $198,355,000 after buying an additional 488,597 shares during the period. 74.66% of the stock is owned by institutional investors.
Goldman Sachs Group, Inc. (NYSE:GS) traded down 0.87% during trading on Wednesday, reaching $225.61. 2,393,898 shares of the company’s stock were exchanged. Goldman Sachs Group, Inc. has a 52 week low of $157.77 and a 52 week high of $255.15. The stock has a market capitalization of $87.58 billion, a price-to-earnings ratio of 11.83 and a beta of 1.42. The company’s 50 day moving average price is $225.55 and its 200-day moving average price is $229.49.
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. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.27%. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the previous year, the firm posted $3.72 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Goldman Sachs Group, Inc. will post $18.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. Goldman Sachs Group, Inc. (The)’s payout ratio is presently 15.74%.
Goldman Sachs Group, Inc. (The) declared that its board has approved a stock buyback plan on Tuesday, April 18th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the investment management company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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GS has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their target price on shares of Goldman Sachs Group, Inc. (The) to $250.00 and set a “neutral” rating for the company in a report on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Wednesday, April 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, June 12th. Rafferty Capital Markets lowered shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and lowered their price target for the company from $288.00 to $221.00 in a research report on Tuesday, April 18th. Finally, Vetr lowered shares of Goldman Sachs Group, Inc. (The) from a “sell” rating to a “strong sell” rating and set a $191.87 price target on the stock. in a research report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $235.44.
In other Goldman Sachs Group, Inc. (The) news, Director David A. Viniar sold 4,590 shares of the business’s 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 of the company’s stock, valued at $194,743,365.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 17,685 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $235.02, for a total transaction of $4,156,328.70. Following the completion of the sale, the executive vice president now directly owns 80,109 shares of the company’s stock, valued at $18,827,217.18. The disclosure for this sale can be found here. Insiders have sold 25,535 shares of company stock worth $5,956,868 over the last ninety days. 2.57% of the stock is currently 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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