Cibc World Market Inc. Has $88.25 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Cibc World Market Inc. lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 25.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 110,819 shares of the investment management company’s stock after selling 38,280 shares during the quarter. Cibc World Market Inc.’s holdings in The Goldman Sachs Group were worth $88,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of The Goldman Sachs Group during the second quarter worth $2,138,031,000. AGF Management Ltd. boosted 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 buying an additional 466,187 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 100,678.6% during the second quarter. Laurel Wealth Advisors LLC now owns 404,122 shares of the investment management company’s stock worth $286,017,000 after buying an additional 403,721 shares in the last quarter. Ameriprise Financial Inc. raised its position in The Goldman Sachs Group by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,895,752 shares of the investment management company’s stock valued at $1,345,924,000 after buying an additional 291,280 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in The Goldman Sachs Group by 3.6% in the 2nd quarter. Fisher Asset Management LLC now owns 6,539,746 shares of the investment management company’s stock valued at $4,628,507,000 after acquiring an additional 227,604 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several brokerages have recently weighed in on GS. Barclays raised their price target on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $970.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research report on Friday, January 16th. Jefferies Financial Group increased their price target on The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, BNP Paribas Exane boosted their price target on The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $916.86.

Check Out Our Latest Research Report on The Goldman Sachs Group

Insider Activity at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 272 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $938.92, for a total value of $255,386.24. Following the completion of the transaction, the chief executive officer directly owned 125,527 shares in the company, valued at approximately $117,859,810.84. This represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Carey Halio sold 2,846 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $927.17, for a total value of $2,638,725.82. Following the completion of the transaction, the treasurer owned 2,017 shares of the company’s stock, valued at $1,870,101.89. This represents a 58.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 87,513 shares of company stock valued at $83,718,401. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $948.40 on Wednesday. The business has a fifty day moving average price of $914.60 and a two-hundred day moving average price of $820.58. The stock has a market capitalization of $284.45 billion, a PE ratio of 18.49, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $984.70.

The Goldman Sachs Group (NYSE:GSGet Free Report) last released its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, beating the consensus estimate of $11.52 by $2.03. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The Goldman Sachs Group’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $11.95 earnings per share. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 2nd will be paid a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.00. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is presently 31.20%.

About The Goldman Sachs Group

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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