Catalyst Funds Management Pty Ltd Acquires Shares of 2,600 The Goldman Sachs Group, Inc. $GS

Catalyst Funds Management Pty Ltd bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, Holdings Channel reports. The institutional investor bought 2,600 shares of the investment management company’s stock, valued at approximately $1,840,000.

Several other hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its holdings in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the last quarter. Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $897,185,000. Ninety One UK Ltd acquired a new stake in shares of The Goldman Sachs Group in the second quarter worth approximately $408,780,000. AGF Management Ltd. increased its position in shares of The Goldman Sachs Group by 2,429.6% during the second quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock worth $343,524,000 after purchasing an additional 466,187 shares in the last quarter. Finally, Amundi raised its stake in The Goldman Sachs Group by 13.6% in the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock valued at $967,193,000 after purchasing an additional 225,993 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GS. JPMorgan Chase & Co. restated a “neutral” rating and issued a $750.00 price objective (up previously from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday, October 21st. UBS Group raised their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Barclays boosted their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. HSBC increased their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Finally, Citigroup boosted their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $786.00.

Insider Activity at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $785.42 on Thursday. The firm’s 50-day moving average is $786.35 and its two-hundred day moving average is $715.26. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $841.28. 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 company has a market capitalization of $235.57 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter last year, the firm earned $8.40 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. Analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is currently 32.50%.

About The Goldman Sachs Group

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.