The Goldman Sachs Group, Inc. $GS Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 175,609 shares of the investment management company’s stock after selling 1,905 shares during the quarter. Cerity Partners LLC’s holdings in The Goldman Sachs Group were worth $124,288,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board grew its position in shares of The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after acquiring an additional 116,535 shares during the last quarter. Ignite Planners LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter worth $239,000. Bank of New York Mellon Corp increased its stake in The Goldman Sachs Group by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after purchasing an additional 157,473 shares during the period. Jump Financial LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at $9,596,000. Finally, Wells Trecaso Financial Group LLC raised its holdings in shares of The Goldman Sachs Group by 0.5% in the second quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock valued at $15,240,000 after buying an additional 108 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BNP Paribas Exane raised their price target on The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a report on Friday, October 17th. BMO Capital Markets started coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a “market perform” rating and a $785.00 price target for the company. Evercore ISI boosted 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, Weiss Ratings restated a “hold (c)” rating on shares of The Goldman Sachs Group in a research note on Monday, December 1st. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $786.00.

The Goldman Sachs Group Trading Up 1.9%

NYSE:GS opened at $854.06 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $856.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average price of $790.53 and a two-hundred day moving average price of $734.14. The stock has a market capitalization of $256.16 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.13 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $8.40 EPS. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business 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 dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

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.