Wedge Capital Management L L P NC raised its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 25.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,169 shares of the investment management company’s stock after purchasing an additional 35,365 shares during the period. Wedge Capital Management L L P NC’s holdings in Goldman Sachs Group were worth $35,430,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Toth Financial Advisory Corp boosted its stake in shares of Goldman Sachs Group by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 70 shares during the period. Alera Investment Advisors LLC boosted its stake in shares of Goldman Sachs Group by 71.8% in the first quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 61 shares during the period. CNB Bank boosted its stake in shares of Goldman Sachs Group by 108.4% in the first quarter. CNB Bank now owns 173 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Trustcore Financial Services LLC boosted its stake in shares of Goldman Sachs Group by 120.0% in the second quarter. Trustcore Financial Services LLC now owns 220 shares of the investment management company’s stock valued at $45,000 after purchasing an additional 120 shares during the period. Finally, Truvestments Capital LLC purchased a new position in shares of Goldman Sachs Group in the first quarter valued at $47,000. 69.54% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on GS shares. JPMorgan Chase & Co. restated a “buy” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Royal Bank of Canada restated a “neutral” rating and issued a $220.00 target price on shares of Goldman Sachs Group in a research note on Tuesday, July 16th. ValuEngine upgraded shares of Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their target price on shares of Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 target price for the company in a research note on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $240.92.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 3,165 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total transaction of $671,454.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.41% of the stock is currently owned by corporate insiders.
NYSE GS traded down $5.09 during trading hours on Wednesday, reaching $196.43. 965,101 shares of the company traded hands, compared to its average volume of 2,799,446. Goldman Sachs Group Inc has a 12 month low of $151.70 and a 12 month high of $245.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $71.77 billion, a PE ratio of 7.77, a PEG ratio of 0.76 and a beta of 1.32. The stock has a 50 day simple moving average of $210.01.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 16th. The investment management company reported $5.81 EPS for the quarter, beating the Zacks’ consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 12.43%. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the prior year, the firm posted $5.98 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Analysts forecast that Goldman Sachs Group Inc will post 22.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio is 13.45%.
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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