Piedmont Investment Advisors LLC reduced its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,206 shares of the investment management company’s stock after selling 2,223 shares during the period. Piedmont Investment Advisors LLC’s holdings in Goldman Sachs Group were worth $18,787,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Goldman Sachs Group by 3,301.2% in the 1st quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock worth $5,644,114,000 after acquiring an additional 23,847,154 shares during the last quarter. Janus Henderson Group PLC increased its stake in Goldman Sachs Group by 4,096.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock worth $549,415,000 after acquiring an additional 2,416,970 shares during the last quarter. New England Asset Management Inc. increased its stake in Goldman Sachs Group by 440.8% in the 1st quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company’s stock worth $535,492,000 after acquiring an additional 1,900,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Goldman Sachs Group by 47.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock worth $799,472,000 after acquiring an additional 1,152,869 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in Goldman Sachs Group by 22,290.9% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,113,050 shares of the investment management company’s stock worth $5,016,000 after acquiring an additional 1,108,079 shares during the last quarter. 73.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Lloyd C. Blankfein sold 20,794 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.38, for a total value of $4,956,873.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Harvey M. Schwartz sold 25,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $245.00, for a total value of $6,125,000.00. The disclosure for this sale can be found here. Insiders sold 135,177 shares of company stock worth $32,435,160 over the last three months. Corporate insiders own 2.57% of the company’s stock.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The company had revenue of $8.33 billion for the quarter, compared to analyst estimates of $7.59 billion. During the same period in the prior year, the company posted $4.88 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. equities analysts predict that Goldman Sachs Group Inc will post 19.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, November 29th. Goldman Sachs Group’s dividend payout ratio is presently 15.63%.
A number of research firms have issued reports on GS. Vertical Group raised Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Citigroup reaffirmed a “neutral” rating and issued a $250.00 price objective (up previously from $225.00) on shares of Goldman Sachs Group in a research note on Monday, October 9th. Credit Suisse Group downgraded Goldman Sachs Group from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $240.00 to $255.00 in a research report on Monday, October 9th. They noted that the move was a valuation call. BMO Capital Markets reissued a “hold” rating and set a $202.00 target price on shares of Goldman Sachs Group in a research report on Friday, October 6th. Finally, Bank of America boosted their target price on Goldman Sachs Group from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $246.10.
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Goldman Sachs Group Company Profile
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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