Earnest Partners LLC cut its holdings in shares of Goldman Sachs (NYSE:GS) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,289 shares of the investment management company’s stock after selling 4,437 shares during the quarter. Earnest Partners LLC’s holdings in Goldman Sachs were worth $21,219,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GS. Jennison Associates LLC lifted its stake in shares of Goldman Sachs by 15.1% in the fourth quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock valued at $1,410,965,000 after purchasing an additional 727,698 shares during the period. Bank of New York Mellon Corp raised its position in Goldman Sachs by 10.9% during the third quarter. Bank of New York Mellon Corp now owns 3,618,896 shares of the investment management company’s stock worth $858,366,000 after acquiring an additional 356,956 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Goldman Sachs by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,401,280 shares of the investment management company’s stock worth $866,510,000 after acquiring an additional 51,853 shares during the last quarter. Boston Partners raised its position in shares of Goldman Sachs by 4.0% in the fourth quarter. Boston Partners now owns 2,903,004 shares of the investment management company’s stock valued at $739,570,000 after buying an additional 112,715 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Goldman Sachs by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,604,091 shares of the investment management company’s stock valued at $617,638,000 after buying an additional 37,731 shares during the last quarter. Institutional investors own 73.18% of the company’s stock.
GS stock traded down $5.84 during midday trading on Friday, reaching $249.97. The stock had a trading volume of 3,620,915 shares, compared to its average volume of 3,488,541. The firm has a market cap of $95,967.05, a price-to-earnings ratio of 12.65, a PEG ratio of 0.90 and a beta of 1.37. Goldman Sachs has a twelve month low of $209.62 and a twelve month high of $275.31. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 3.09.
Goldman Sachs (NYSE:GS) last posted its earnings results on Wednesday, January 17th. The investment management company reported $5.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.90 by $0.78. Goldman Sachs had a return on equity of 11.66% and a net margin of 13.36%. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period in the previous year, the company earned $5.08 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. sell-side analysts predict that Goldman Sachs will post 21.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 1st were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.20%. Goldman Sachs’s dividend payout ratio is presently 15.18%.
GS has been the subject of a number of recent analyst reports. Wells Fargo restated an “outperform” rating and issued a $320.00 target price on shares of Goldman Sachs in a report on Thursday, January 25th. Vetr upgraded shares of Goldman Sachs from a “sell” rating to a “hold” rating and set a $246.36 target price for the company in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Goldman Sachs from a “hold” rating to a “buy” rating and set a $294.00 price target on the stock in a report on Tuesday, March 20th. BMO Capital Markets lowered their price target on shares of Goldman Sachs to $221.00 and set a “market perform” rating for the company in a research report on Thursday, January 18th. Finally, JPMorgan Chase reiterated a “buy” rating and issued a $280.00 target price on shares of Goldman Sachs in a research report on Thursday, March 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Goldman Sachs currently has an average rating of “Hold” and an average price target of $258.79.
In other Goldman Sachs news, Director David A. Viniar sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $251.19, for a total value of $4,395,825.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian J. Lee sold 6,738 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $263.92, for a total value of $1,778,292.96. The disclosure for this sale can be found here. Insiders sold a total of 83,548 shares of company stock valued at $22,064,172 over the last quarter. 2.57% of the stock is owned by insiders.
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Goldman Sachs Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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