Municipal Employees Retirement System of Michigan lessened its position in Goldman Sachs (NYSE:GS) by 56.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,290 shares of the investment management company’s stock after selling 12,120 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Goldman Sachs were worth $2,367,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in shares of Goldman Sachs by 15.1% during 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 buying an additional 727,698 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Goldman Sachs by 10.9% in 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 purchasing an additional 356,956 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Goldman Sachs by 1.5% in 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 purchasing an additional 51,853 shares during the last quarter. Boston Partners grew its stake 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 worth $739,570,000 after purchasing an additional 112,715 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 worth $617,638,000 after purchasing an additional 37,731 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors and hedge funds.
NYSE GS traded down $5.84 during mid-day trading on Friday, reaching $249.97. The stock had a trading volume of 3,621,939 shares, compared to its average volume of 2,834,702. Goldman Sachs has a 1 year low of $209.62 and a 1 year high of $275.31. The firm has a market cap of $97,178.89, a P/E ratio of 12.65, a PEG ratio of 0.91 and a beta of 1.37. 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 announced its quarterly earnings data on Wednesday, January 17th. The investment management company reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.90 by $0.78. Goldman Sachs had a net margin of 13.36% and a return on equity of 11.66%. 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 business earned $5.08 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. equities analysts expect that Goldman Sachs will post 21.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 1st were issued a $0.75 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.00 dividend on an annualized basis and a yield of 1.20%. Goldman Sachs’s payout ratio is currently 15.18%.
In other Goldman Sachs news, Vice Chairman Pablo J. Salame sold 10,000 shares of Goldman Sachs stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $270.42, for a total value of $2,704,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Viniar sold 17,500 shares of Goldman Sachs stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $251.19, for a total transaction of $4,395,825.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,548 shares of company stock valued at $22,064,172. 2.57% of the stock is owned by company insiders.
GS has been the topic of several recent analyst reports. Vertical Group raised Goldman Sachs from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Wells Fargo restated an “outperform” rating and issued a $320.00 price objective on shares of Goldman Sachs in a report on Thursday, January 25th. Barclays raised their price objective on shares of Goldman Sachs from $262.00 to $308.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Goldman Sachs from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a report on Tuesday, December 19th. Finally, Morgan Stanley raised their price objective on shares of Goldman Sachs from $294.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $258.79.
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Goldman Sachs Company 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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