Culbertson A N & Co. Inc. cut its stake in Goldman Sachs Group Inc (NYSE:GS) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,551 shares of the investment management company’s stock after selling 178 shares during the period. Goldman Sachs Group makes up 1.6% of Culbertson A N & Co. Inc.’s holdings, making the stock its 19th largest position. Culbertson A N & Co. Inc.’s holdings in Goldman Sachs Group were worth $5,842,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Dimensional Fund Advisors LP increased its position in Goldman Sachs Group by 8.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,112,048 shares of the investment management company’s stock worth $519,812,000 after buying an additional 247,616 shares during the period. Geode Capital Management LLC increased its position in Goldman Sachs Group by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock worth $715,573,000 after buying an additional 411,700 shares during the period. Two Sigma Advisers LP acquired a new position in Goldman Sachs Group during the fourth quarter worth approximately $301,000. Altfest L J & Co. Inc. increased its position in Goldman Sachs Group by 186.2% during the first quarter. Altfest L J & Co. Inc. now owns 6,047 shares of the investment management company’s stock worth $353,000 after buying an additional 3,934 shares during the period. Finally, Triangle Securities Wealth Management increased its position in Goldman Sachs Group by 4.6% during the first quarter. Triangle Securities Wealth Management now owns 7,402 shares of the investment management company’s stock worth $1,421,000 after buying an additional 323 shares during the period. 68.49% of the stock is owned by hedge funds and other institutional investors.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.41% of the company’s stock.
Several research analysts have commented on GS shares. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $240.00 price target on shares of Goldman Sachs Group in a research report on Wednesday, July 17th. Bank of America reaffirmed a “hold” rating and set a $212.00 price target on shares of Goldman Sachs Group in a research report on Monday, April 15th. TheStreet lowered Goldman Sachs Group from a “b-” rating to a “c” rating in a research report on Monday, May 13th. Morgan Stanley lifted their price target 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, Zacks Investment Research raised Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price target on the stock in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $240.92.
Shares of GS stock traded down $2.23 during midday trading on Friday, hitting $209.37. The company had a trading volume of 2,502,986 shares, compared to its average volume of 2,500,058. The stock has a 50 day simple moving average of $207.55. Goldman Sachs Group Inc has a 52-week low of $151.70 and a 52-week high of $245.08. The firm has a market capitalization of $77.41 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.32. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.86 and a current ratio of 0.85.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 11.99% and a net margin of 22.09%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the business posted $5.98 EPS. The company’s revenue was up .6% on a year-over-year basis. Analysts forecast that Goldman Sachs Group Inc will post 22.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $1.25 dividend. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. This represents a $5.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is 13.45%.
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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