State Board of Administration of Florida Retirement System decreased its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 545,953 shares of the investment management company’s stock after selling 3,267 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Goldman Sachs Group worth $129,495,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of GS. Whalerock Point Partners LLC raised its position in shares of Goldman Sachs Group by 24.9% during the 3rd quarter. Whalerock Point Partners LLC now owns 2,135 shares of the investment management company’s stock valued at $506,000 after purchasing an additional 425 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Goldman Sachs Group by 3.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 143,033 shares of the investment management company’s stock valued at $33,926,000 after purchasing an additional 4,889 shares during the period. Ausdal Financial Partners Inc. raised its position in shares of Goldman Sachs Group by 28.1% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 1,164 shares of the investment management company’s stock valued at $276,000 after purchasing an additional 255 shares during the period. Channing Capital Management LLC increased its holdings in Goldman Sachs Group by 3.3% in the 3rd quarter. Channing Capital Management LLC now owns 35,718 shares of the investment management company’s stock valued at $8,472,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Middleton & Co Inc MA bought a new stake in Goldman Sachs Group in the 3rd quarter valued at $1,667,000. Hedge funds and other institutional investors own 73.35% of the company’s stock.
A number of analysts have issued reports on the stock. Citigroup reiterated a “neutral” rating and issued a $250.00 price target (up from $225.00) on shares of Goldman Sachs Group in a report on Monday, October 9th. Credit Suisse Group cut shares of Goldman Sachs Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $240.00 to $255.00 in a research note on Monday, October 9th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $202.00 price target on shares of Goldman Sachs Group in a research note on Friday, October 6th. Bank of America lifted their price target on shares of Goldman Sachs Group from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $246.10.
In related news, VP Gregory K. Palm sold 4,620 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $238.99, for a total value of $1,104,133.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Richard J. Gnodde sold 4,951 shares of Goldman Sachs Group stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $239.95, for a total transaction of $1,187,992.45. The disclosure for this sale can be found here. In the last three months, insiders sold 135,177 shares of company stock valued at $32,435,160. Insiders own 2.57% of the company’s stock.
Shares of Goldman Sachs Group Inc (NYSE GS) traded up $2.61 on Thursday, hitting $248.56. 2,666,379 shares of the company were exchanged, compared to its average volume of 3,284,350. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group Inc has a 12-month low of $209.62 and a 12-month high of $255.15. The stock has a market capitalization of $93,670.45, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.26 and a beta of 1.47.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a net margin of 26.42% and a return on equity of 11.34%. The company had revenue of $8.33 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same quarter last year, the firm posted $4.88 earnings per share. Goldman Sachs Group’s revenue was up 2.0% compared to the same quarter last year. equities analysts anticipate that Goldman Sachs Group Inc will post 19.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 29th. Goldman Sachs Group’s payout ratio is 15.63%.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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