Gabelli Funds LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 85,600 shares of the investment management company’s stock after selling 700 shares during the period. Gabelli Funds LLC’s holdings in The Goldman Sachs Group were worth $27,609,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GS. Carlson Capital L P grew its position in The Goldman Sachs Group by 13.3% in the second quarter. Carlson Capital L P now owns 15,300 shares of the investment management company’s stock valued at $4,935,000 after acquiring an additional 1,800 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of The Goldman Sachs Group by 3.8% during the 2nd quarter. Edgestream Partners L.P. now owns 2,671 shares of the investment management company’s stock valued at $862,000 after buying an additional 98 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in shares of The Goldman Sachs Group by 9.4% during the 2nd quarter. First Commonwealth Financial Corp PA now owns 1,663 shares of the investment management company’s stock valued at $536,000 after buying an additional 143 shares during the last quarter. AXS Investments LLC lifted its stake in The Goldman Sachs Group by 6.6% during the second quarter. AXS Investments LLC now owns 936 shares of the investment management company’s stock worth $302,000 after purchasing an additional 58 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in The Goldman Sachs Group by 452.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 5,463 shares of the investment management company’s stock worth $1,762,000 after purchasing an additional 4,475 shares during the last quarter. Institutional investors and hedge funds own 69.06% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on GS shares. HSBC started coverage on The Goldman Sachs Group in a research note on Thursday, September 7th. They set a “buy” rating and a $403.00 price objective on the stock. JMP Securities restated a “market outperform” rating and set a $440.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, October 18th. Atlantic Securities upgraded The Goldman Sachs Group from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $330.00 to $351.00 in a research note on Tuesday, August 1st. Oppenheimer raised their price objective on The Goldman Sachs Group from $447.00 to $468.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley reduced their price objective on The Goldman Sachs Group from $347.00 to $329.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $393.76.
Insider Buying and Selling
In related news, major shareholder Goldman Sachs Group Inc sold 72,874 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $0.71, for a total transaction of $51,740.54. Following the transaction, the insider now directly owns 397,954 shares of the company’s stock, valued at $282,547.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.
The Goldman Sachs Group Stock Performance
Shares of GS traded up $2.52 during trading hours on Friday, reaching $339.19. 1,465,594 shares of the company’s stock traded hands, compared to its average volume of 2,379,626. The firm has a market capitalization of $110.61 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.98 and a beta of 1.43. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.77 and a quick ratio of 0.77. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $389.44. The business’s fifty day simple moving average is $319.07 and its two-hundred day simple moving average is $326.68.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.47 EPS for the quarter, beating analysts’ consensus estimates of $5.42 by $0.05. The company had revenue of $11.82 billion for the quarter, compared to analyst estimates of $11.15 billion. The Goldman Sachs Group had a return on equity of 7.37% and a net margin of 7.77%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $8.25 earnings per share. Analysts predict that The Goldman Sachs Group, Inc. will post 22.98 earnings per share for the current year.
The Goldman Sachs Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Wednesday, November 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 53.24%.
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 resale agreements.
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