First American Trust FSB lessened its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 0.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,775 shares of the investment management company’s stock after selling 154 shares during the period. First American Trust FSB’s holdings in Goldman Sachs Group were worth $3,891,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in shares of Goldman Sachs Group by 9.1% in the third quarter. Bogart Wealth LLC now owns 2,019 shares of the investment management company’s stock valued at $418,000 after purchasing an additional 169 shares during the last quarter. Manning & Napier Group LLC bought a new position in shares of Goldman Sachs Group during the 3rd quarter valued at approximately $620,000. Hexavest Inc. bought a new position in shares of Goldman Sachs Group during the 3rd quarter valued at approximately $18,971,000. Bell & Brown Wealth Advisors LLC grew its stake in shares of Goldman Sachs Group by 1.5% during the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 9,698 shares of the investment management company’s stock valued at $1,973,000 after acquiring an additional 141 shares during the period. Finally, Northwest Bancshares Inc. grew its stake in shares of Goldman Sachs Group by 2.1% during the 3rd quarter. Northwest Bancshares Inc. now owns 13,294 shares of the investment management company’s stock valued at $2,754,000 after acquiring an additional 272 shares during the period. Institutional investors own 68.66% of the company’s stock.
A number of research analysts recently issued reports on the company. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised Goldman Sachs Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $225.00 to $260.00 in a report on Friday, July 26th. Royal Bank of Canada set a $220.00 price objective on Goldman Sachs Group and gave the company a “neutral” rating in a report on Monday. Finally, Deutsche Bank reissued a “buy” rating on shares of Goldman Sachs Group in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $240.92.
NYSE GS traded up $3.14 on Thursday, reaching $199.99. 119,658 shares of the company were exchanged, compared to its average volume of 2,510,917. The business’s fifty day moving average price is $206.37 and its 200 day moving average price is $202.67. The stock has a market capitalization of $72.06 billion, a P/E ratio of 7.90, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.78. Goldman Sachs Group Inc has a fifty-two week low of $151.70 and a fifty-two week high of $234.06.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.73 by $1.08. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $8.88 billion. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.98 earnings per share. Equities research analysts forecast that Goldman Sachs Group Inc will post 22.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $5.00 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s payout ratio is 19.79%.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 3,165 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total transaction of $671,454.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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