Kingsview Wealth Management LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,419 shares of the investment management company’s stock after selling 197 shares during the quarter. Kingsview Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $1,002,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Centerpoint Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the third quarter valued at about $26,000. Transamerica Financial Advisors Inc. raised its holdings in shares of The Goldman Sachs Group by 727.3% during the third quarter. Transamerica Financial Advisors Inc. now owns 91 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 80 shares during the period. NewSquare Capital LLC acquired a new position in shares of The Goldman Sachs Group during the third quarter valued at about $29,000. Paragon Wealth Strategies LLC acquired a new position in shares of The Goldman Sachs Group during the third quarter valued at about $31,000. Finally, SJS Investment Consulting Inc. acquired a new position in shares of The Goldman Sachs Group during the third quarter valued at about $32,000. Institutional investors and hedge funds own 69.09% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on GS shares. Odeon Capital Group upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 price objective on the stock in a report on Tuesday, January 10th. Morgan Stanley decreased their target price on shares of The Goldman Sachs Group from $356.00 to $332.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 18th. Bank of America boosted their target price on shares of The Goldman Sachs Group from $384.00 to $425.00 in a research report on Thursday, March 9th. Credit Suisse Group set a $410.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday, January 25th. Finally, Barclays boosted their target price on shares of The Goldman Sachs Group from $410.00 to $495.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $399.24.
The Goldman Sachs Group Stock Up 2.1 %
The Goldman Sachs Group (NYSE:GS – Get Rating) last released its earnings results on Tuesday, January 17th. The investment management company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.25 by ($1.93). The Goldman Sachs Group had a net margin of 16.39% and a return on equity of 10.55%. The company had revenue of $10.59 billion for the quarter, compared to the consensus estimate of $10.91 billion. During the same period in the prior year, the company earned $10.81 earnings per share. The firm’s revenue was down 16.2% on a year-over-year basis. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 33.14 EPS for the current year.
The Goldman Sachs Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 2nd will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, March 1st. The Goldman Sachs Group’s dividend payout ratio is currently 33.27%.
In other news, major shareholder Goldman Sachs Group Inc sold 3,749 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $10.58, for a total transaction of $39,664.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.57% of the company’s stock.
The Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, helping companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.
- Get a free copy of the StockNews.com research report on The Goldman Sachs Group (GS)
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