Convergence Investment Partners LLC reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,630 shares of the investment management company’s stock after selling 1,582 shares during the period. Convergence Investment Partners LLC’s holdings in Goldman Sachs Group were worth $1,903,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Community Bank N.A. bought a new position in shares of Goldman Sachs Group in the second quarter worth $291,000. State of Michigan Retirement System boosted its holdings in shares of Goldman Sachs Group by 8.3% in the second quarter. State of Michigan Retirement System now owns 79,083 shares of the investment management company’s stock worth $15,628,000 after acquiring an additional 6,033 shares during the period. Duality Advisers LP bought a new stake in Goldman Sachs Group during the second quarter valued at $1,998,000. Sciencast Management LP boosted its stake in Goldman Sachs Group by 166.6% during the second quarter. Sciencast Management LP now owns 18,875 shares of the investment management company’s stock valued at $3,972,000 after buying an additional 11,796 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in Goldman Sachs Group during the second quarter valued at $5,126,000. 68.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Goldman Sachs Group stock traded down $1.57 during trading hours on Friday, reaching $197.96. 2,401,074 shares of the stock traded hands, compared to its average volume of 3,834,824. The company has a 50 day moving average price of $202.93 and a 200 day moving average price of $199.51. The firm has a market capitalization of $68.62 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 4.61 and a beta of 1.46. Goldman Sachs Group Inc has a one year low of $130.85 and a one year high of $250.46. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 2.42.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 15th. The investment management company reported $6.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.78 by $2.48. Goldman Sachs Group had a return on equity of 8.71% and a net margin of 13.40%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $9.76 billion. During the same period in the previous year, the firm earned $5.81 EPS. The business’s quarterly revenue was up 40.5% on a year-over-year basis. Sell-side analysts anticipate that Goldman Sachs Group Inc will post 18.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $1.25 per share. The ex-dividend date is Monday, August 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Goldman Sachs Group’s payout ratio is currently 23.78%.
GS has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating and set a $230.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, July 16th. DA Davidson lifted their price objective on Goldman Sachs Group from $215.00 to $238.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Barclays lifted their price objective on Goldman Sachs Group from $236.00 to $253.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Morgan Stanley lifted their price objective on Goldman Sachs Group from $177.00 to $192.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Finally, UBS Group reissued a “hold” rating and set a $200.00 price objective on shares of Goldman Sachs Group in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $242.57.
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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