Marshfield Associates cut its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 462,180 shares of the investment management company’s stock after selling 6,353 shares during the period. Goldman Sachs Group makes up about 6.8% of Marshfield Associates’ portfolio, making the stock its 4th biggest holding. Marshfield Associates owned about 0.12% of Goldman Sachs Group worth $101,943,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation bought a new stake in shares of Goldman Sachs Group in the 2nd quarter valued at approximately $109,000. First Mercantile Trust Co. bought a new stake in shares of Goldman Sachs Group in the 2nd quarter valued at approximately $110,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Goldman Sachs Group in the 1st quarter valued at approximately $151,000. Squar Milner Financial Services LLC bought a new stake in shares of Goldman Sachs Group in the 2nd quarter valued at approximately $157,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Goldman Sachs Group in the 2nd quarter valued at approximately $176,000. 71.04% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on GS shares. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Goldman Sachs Group in a research note on Monday, September 10th. Credit Suisse Group raised Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 17th. Keefe, Bruyette & Woods lowered their price objective on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a research note on Wednesday, July 18th. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price objective for the company in a research note on Friday, July 20th. Finally, Oppenheimer raised their price objective on Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $273.69.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,382 shares of the firm’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total transaction of $1,945,294.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total value of $2,019,464.96. The disclosure for this sale can be found here. Corporate insiders own 2.57% of the company’s stock.
Shares of NYSE GS opened at $229.24 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.02. Goldman Sachs Group Inc has a fifty-two week low of $218.89 and a fifty-two week high of $275.31. The company has a market capitalization of $86.14 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.72 and a beta of 1.27.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 17th. The investment management company reported $5.98 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.32. Goldman Sachs Group had a return on equity of 13.58% and a net margin of 15.72%. The firm had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $8.74 billion. During the same period in the prior year, the business posted $3.95 earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. equities research analysts anticipate that Goldman Sachs Group Inc will post 24.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, August 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $3.20 annualized dividend and a dividend yield of 1.40%. Goldman Sachs Group’s payout ratio is 16.19%.
About Goldman Sachs Group
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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