Rockbridge Investment Management LCC purchased a new stake in shares of Goldman Sachs Group Inc (NYSE:GS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 411 shares of the investment management company’s stock, valued at approximately $81,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Laidlaw Wealth Management LLC increased its holdings in Goldman Sachs Group by 26.7% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,074 shares of the investment management company’s stock worth $410,000 after purchasing an additional 437 shares during the period. Equitable Trust Co. increased its holdings in Goldman Sachs Group by 3.0% during the 2nd quarter. Equitable Trust Co. now owns 15,265 shares of the investment management company’s stock worth $3,016,000 after purchasing an additional 446 shares during the period. WFA of San Diego LLC purchased a new position in Goldman Sachs Group during the 2nd quarter worth $361,000. California State Teachers Retirement System increased its holdings in Goldman Sachs Group by 3.1% during the 2nd quarter. California State Teachers Retirement System now owns 601,718 shares of the investment management company’s stock worth $118,912,000 after purchasing an additional 18,311 shares during the period. Finally, Van Cleef Asset Management Inc purchased a new position in Goldman Sachs Group during the 2nd quarter worth $202,000. Hedge funds and other institutional investors own 68.70% of the company’s stock.
Several research analysts have commented on the company. Odeon Capital Group upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a report on Tuesday, May 26th. TheStreet cut Goldman Sachs Group from a “b-” rating to a “c+” rating in a research report on Friday, August 14th. Berenberg Bank increased their target price on Goldman Sachs Group from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Seaport Global Securities began coverage on Goldman Sachs Group in a research report on Wednesday, July 8th. They set a “buy” rating and a $261.00 target price on the stock. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $230.00 target price on shares of Goldman Sachs Group in a research report on Thursday, July 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $243.52.
Shares of NYSE GS traded up $4.55 during mid-day trading on Wednesday, hitting $202.55. The stock had a trading volume of 114,418 shares, compared to its average volume of 3,779,712. The firm has a market cap of $68.13 billion, a PE ratio of 10.50, a PEG ratio of 6.84 and a beta of 1.42. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day moving average of $205.04 and a two-hundred day moving average of $191.60. Goldman Sachs Group Inc has a twelve month low of $130.85 and a twelve month high of $250.46.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 15th. The investment management company reported $6.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.78 by $2.48. Goldman Sachs Group had a return on equity of 9.07% and a net margin of 13.40%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $9.76 billion. During the same quarter in the previous year, the business earned $5.81 EPS. The company’s quarterly revenue was up 40.5% compared to the same quarter last year. Equities research analysts predict that Goldman Sachs Group Inc will post 12.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, August 31st. Goldman Sachs Group’s payout ratio is 23.78%.
Goldman Sachs Group 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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