Cidel Asset Management Inc. Raises Stock Position in The Goldman Sachs Group, Inc. $GS

Cidel Asset Management Inc. lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,171 shares of the investment management company’s stock after buying an additional 21 shares during the period. Cidel Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $1,537,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after purchasing an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $321,000. Blueshift Asset Management LLC boosted its stake in The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after purchasing an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. boosted its stake in The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $1,643,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on GS shares. Royal Bank Of Canada reiterated a “neutral” rating and issued a $843.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. HSBC lifted their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Daiwa Capital Markets lifted their price objective on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $770.73.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $750.71 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The firm has a market cap of $227.25 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a 50 day moving average price of $765.25 and a 200-day moving average price of $670.40. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $8.40 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is 32.50%.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 in the last quarter. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.