Golden State Wealth Management LLC acquired a new position in shares of Goldman Sachs Group Inc (NYSE:GS) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,471 shares of the investment management company’s stock, valued at approximately $282,000.
Several other institutional investors and hedge funds have also modified their holdings of GS. Norges Bank bought a new position in shares of Goldman Sachs Group in the 4th quarter valued at $474,398,000. Lakewood Capital Management LP bought a new position in shares of Goldman Sachs Group in the 4th quarter valued at $136,480,000. Jennison Associates LLC increased its stake in shares of Goldman Sachs Group by 17.8% in the 4th quarter. Jennison Associates LLC now owns 4,710,738 shares of the investment management company’s stock valued at $786,929,000 after purchasing an additional 710,479 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Goldman Sachs Group by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock valued at $715,573,000 after purchasing an additional 411,700 shares during the last quarter. Finally, Quinn Opportunity Partners LLC increased its stake in shares of Goldman Sachs Group by 1,847.6% in the 4th quarter. Quinn Opportunity Partners LLC now owns 399,264 shares of the investment management company’s stock valued at $66,697,000 after purchasing an additional 378,764 shares during the last quarter. Institutional investors own 68.52% of the company’s stock.
Several equities analysts have recently issued reports on GS shares. BMO Capital Markets decreased their price target on Goldman Sachs Group from $262.00 to $260.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. ValuEngine lowered Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research report on Friday, March 1st. Morgan Stanley boosted their price objective on Goldman Sachs Group from $207.00 to $218.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer boosted their price objective on Goldman Sachs Group from $302.00 to $312.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $239.91.
Shares of GS stock opened at $191.66 on Friday. The firm has a market cap of $70.12 billion, a P/E ratio of 7.58, a PEG ratio of 1.23 and a beta of 1.27. Goldman Sachs Group Inc has a twelve month low of $151.70 and a twelve month high of $245.08. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.86 and a current ratio of 0.86.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 15th. The investment management company reported $5.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.97. The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.89 billion. Goldman Sachs Group had a return on equity of 12.79% and a net margin of 25.13%. Goldman Sachs Group’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.95 EPS. Equities research analysts expect that Goldman Sachs Group Inc will post 23.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 29th. This represents a $3.40 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s payout ratio is currently 13.45%.
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Goldman Sachs Group 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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