Principle Wealth Partners LLC lifted its position in Goldman Sachs Group Inc (NYSE:GS) by 15.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,252 shares of the investment management company’s stock after acquiring an additional 1,501 shares during the quarter. Principle Wealth Partners LLC’s holdings in Goldman Sachs Group were worth $2,332,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of GS. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Goldman Sachs Group by 1.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 3,093 shares of the investment management company’s stock valued at $633,000 after purchasing an additional 48 shares during the last quarter. Evolution Wealth Advisors LLC lifted its position in Goldman Sachs Group by 12.3% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 449 shares of the investment management company’s stock valued at $92,000 after acquiring an additional 49 shares during the period. Moloney Securities Asset Management LLC lifted its position in Goldman Sachs Group by 2.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 1,716 shares of the investment management company’s stock valued at $356,000 after acquiring an additional 49 shares during the period. Cannell Peter B & Co. Inc. lifted its position in Goldman Sachs Group by 1.6% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 3,130 shares of the investment management company’s stock valued at $640,000 after acquiring an additional 50 shares during the period. Finally, Cypress Asset Management Inc. TX lifted its position in Goldman Sachs Group by 2.5% during the 3rd quarter. Cypress Asset Management Inc. TX now owns 2,050 shares of the investment management company’s stock valued at $425,000 after acquiring an additional 50 shares during the period. Institutional investors own 68.64% of the company’s stock.
GS has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a report on Wednesday, July 17th. Oppenheimer cut their price target on shares of Goldman Sachs Group from $316.00 to $301.00 and set an “outperform” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada set a $220.00 price target on shares of Goldman Sachs Group and gave the stock a “neutral” rating in a report on Monday, October 7th. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $235.00 price target on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $244.92.
Shares of NYSE GS traded down $0.38 during midday trading on Friday, reaching $222.91. 1,578,409 shares of the stock were exchanged, compared to its average volume of 2,668,293. The firm has a market cap of $79.06 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.84 and a beta of 1.35. Goldman Sachs Group Inc has a twelve month low of $151.70 and a twelve month high of $231.69. The firm has a 50-day simple moving average of $209.60 and a two-hundred day simple moving average of $204.66. The company has a quick ratio of 0.85, a current ratio of 0.78 and a debt-to-equity ratio of 2.68.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $4.79 EPS for the quarter, missing analysts’ consensus estimates of $5.03 by ($0.24). The firm had revenue of $8.32 billion for the quarter, compared to analyst estimates of $8.33 billion. Goldman Sachs Group had a return on equity of 11.41% and a net margin of 18.86%. Goldman Sachs Group’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $6.28 EPS. Research analysts expect that Goldman Sachs Group Inc will post 21.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, November 29th. Goldman Sachs Group’s dividend payout ratio is presently 19.79%.
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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