New York State Common Retirement Fund reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 5.4% during the 1st quarter, HoldingsChannel reports. The fund owned 1,033,100 shares of the investment management company’s stock after selling 59,000 shares during the period. New York State Common Retirement Fund’s holdings in Goldman Sachs Group were worth $260,197,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Jennison Associates LLC increased its stake in Goldman Sachs Group 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 last quarter. The Manufacturers Life Insurance Company increased its stake in Goldman Sachs Group 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 valued at $866,510,000 after purchasing an additional 51,853 shares during the last quarter. Boston Partners increased its stake in Goldman Sachs Group by 3.4% in the first quarter. Boston Partners now owns 3,001,740 shares of the investment management company’s stock valued at $756,018,000 after purchasing an additional 98,736 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Goldman Sachs Group by 116.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 2,529,469 shares of the investment management company’s stock valued at $644,408,000 after purchasing an additional 1,360,046 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Goldman Sachs Group by 5.0% in the fourth quarter. OppenheimerFunds Inc. now owns 1,814,586 shares of the investment management company’s stock valued at $462,283,000 after purchasing an additional 85,931 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
GS stock opened at $236.10 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.12. Goldman Sachs Group Inc has a 1 year low of $209.62 and a 1 year high of $275.31. The stock has a market capitalization of $89.83 billion, a PE ratio of 11.95, a P/E/G ratio of 0.82 and a beta of 1.38.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.58 by $1.37. Goldman Sachs Group had a return on equity of 12.58% and a net margin of 14.27%. The business had revenue of $10.04 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same quarter last year, the firm earned $5.15 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. equities analysts predict that Goldman Sachs Group Inc will post 23.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, May 31st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.75. Goldman Sachs Group’s dividend payout ratio (DPR) is 15.18%.
In other news, insider David M. Solomon sold 3,497 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $244.40, for a total value of $854,666.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.57% of the stock is currently owned by company insiders.
Several research firms recently commented on GS. Morgan Stanley upped their target price on Goldman Sachs Group from $294.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. restated a “buy” rating and set a $280.00 price target on shares of Goldman Sachs Group in a research note on Thursday, March 15th. Wells Fargo & Co restated an “outperform” rating and set a $320.00 price target on shares of Goldman Sachs Group in a research note on Thursday, January 25th. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $294.00 price target for the company in a research note on Tuesday, March 20th. Finally, Vetr lowered Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $246.36 price target for the company. in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $266.78.
Goldman Sachs Group 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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