Quadrant Capital Management LLC cut its position in Goldman Sachs (NYSE:GS) by 3.0% during the 1st quarter, HoldingsChannel reports. The firm owned 12,427 shares of the investment management company’s stock after selling 380 shares during the quarter. Goldman Sachs accounts for about 2.3% of Quadrant Capital Management LLC’s holdings, making the stock its 13th largest holding. Quadrant Capital Management LLC’s holdings in Goldman Sachs were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in Goldman Sachs by 15.1% in the 4th quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock worth $1,410,965,000 after purchasing an additional 727,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Goldman Sachs by 1.5% in the 4th 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 in the last quarter. Boston Partners increased its holdings in shares of Goldman Sachs by 3.4% in the 1st quarter. Boston Partners now owns 3,001,740 shares of the investment management company’s stock worth $756,018,000 after buying an additional 98,736 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Goldman Sachs by 116.3% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,529,469 shares of the investment management company’s stock worth $644,408,000 after buying an additional 1,360,046 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in shares of Goldman Sachs by 5.0% in the 4th quarter. OppenheimerFunds Inc. now owns 1,814,586 shares of the investment management company’s stock worth $462,283,000 after buying an additional 85,931 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
In other news, insider David M. Solomon sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $244.40, for a total value of $854,666.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Lee sold 6,738 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $263.92, for a total transaction of $1,778,292.96. The disclosure for this sale can be found here. In the last three months, insiders sold 14,635 shares of company stock worth $3,800,588. Insiders own 1.71% of the company’s stock.
Shares of Goldman Sachs opened at $237.70 on Tuesday, Marketbeat reports. The firm has a market capitalization of $89.52 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.82 and a beta of 1.38. Goldman Sachs has a 12-month low of $209.62 and a 12-month high of $275.31. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.92 and a current ratio of 0.92.
Goldman Sachs (NYSE:GS) last announced its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.58 by $1.37. The business had revenue of $10.04 billion for the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs had a net margin of 14.27% and a return on equity of 12.58%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.15 EPS. research analysts expect that Goldman Sachs will post 23.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, May 31st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, May 30th. This is a positive change from Goldman Sachs’s previous quarterly dividend of $0.75. Goldman Sachs’s dividend payout ratio (DPR) is 15.18%.
A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target 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. JPMorgan Chase reissued a “buy” rating and issued a $280.00 price target on shares of Goldman Sachs in a report on Thursday, March 15th. Wells Fargo reissued an “outperform” rating and issued a $320.00 price target on shares of Goldman Sachs in a report on Thursday, January 25th. 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. Finally, Vetr lowered shares of Goldman Sachs from a “hold” rating to a “sell” rating and set a $246.36 price target on the stock. in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Goldman Sachs has a consensus rating of “Hold” and an average price target of $266.78.
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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