Westpac Banking Corp trimmed its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 50.4% in the first quarter, Holdings Channel reports. The institutional investor owned 42,464 shares of the investment management company’s stock after selling 43,067 shares during the period. Westpac Banking Corp’s holdings in Goldman Sachs Group were worth $8,153,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Financial Planning LLC purchased a new stake in shares of Goldman Sachs Group in the 4th quarter valued at about $26,000. Toth Financial Advisory Corp lifted its holdings in shares of Goldman Sachs Group by 100.0% in the 1st quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 70 shares during the last quarter. Alera Investment Advisors LLC lifted its holdings in shares of Goldman Sachs Group by 71.8% in the 1st quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 61 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Goldman Sachs Group in the 4th quarter valued at about $29,000. Finally, Loeb Partners Corp purchased a new stake in shares of Goldman Sachs Group in the 4th quarter valued at about $33,000. 68.52% of the stock is owned by institutional investors.
GS stock traded down $0.87 during trading on Friday, hitting $190.58. The company had a trading volume of 60,018 shares, compared to its average volume of 2,160,776. The stock has a market capitalization of $69.72 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. Goldman Sachs Group Inc has a 1-year low of $151.70 and a 1-year high of $245.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.84.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.97. The firm had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Goldman Sachs Group had a return on equity of 12.79% and a net margin of 25.13%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.95 EPS. Analysts expect that Goldman Sachs Group Inc will post 23.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, May 29th. This represents a $3.40 annualized dividend and a yield of 1.78%. Goldman Sachs Group’s payout ratio is presently 13.45%.
GS has been the subject of several research reports. Zacks Investment Research raised Goldman Sachs Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 18th. ValuEngine downgraded Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. Oppenheimer boosted their target price on Goldman Sachs Group from $302.00 to $312.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. HSBC set a $202.00 price target on Goldman Sachs Group and gave the company a “neutral” rating in a research report on Thursday, April 4th. Finally, Bank of America restated a “hold” rating and issued a $212.00 price target on shares of Goldman Sachs Group in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $239.91.
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Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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