Next Capital Management LLC bought a new position in shares of Goldman Sachs Group Inc (NYSE:GS) in the 2nd quarter, Holdings Channel reports. The fund bought 135 shares of the investment management company’s stock, valued at approximately $28,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in Goldman Sachs Group by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 36,784 shares of the investment management company’s stock valued at $7,526,000 after acquiring an additional 959 shares during the period. Candriam Luxembourg S.C.A. grew its stake in Goldman Sachs Group by 10.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 11,555 shares of the investment management company’s stock valued at $2,354,000 after acquiring an additional 1,095 shares during the period. Diligent Investors LLC grew its stake in Goldman Sachs Group by 6.2% in the second quarter. Diligent Investors LLC now owns 2,152 shares of the investment management company’s stock valued at $440,000 after acquiring an additional 125 shares during the period. Parsons Capital Management Inc. RI grew its stake in Goldman Sachs Group by 2.1% in the second quarter. Parsons Capital Management Inc. RI now owns 3,383 shares of the investment management company’s stock valued at $692,000 after acquiring an additional 70 shares during the period. Finally, Sigma Planning Corp grew its stake in Goldman Sachs Group by 17.4% in the second quarter. Sigma Planning Corp now owns 4,417 shares of the investment management company’s stock valued at $904,000 after acquiring an additional 654 shares during the period. 69.54% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on GS. Deutsche Bank reissued a “buy” rating on shares of Goldman Sachs Group in a research note on Friday, June 28th. BMO Capital Markets raised their price objective on Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reissued a “neutral” rating and issued a $220.00 price objective on shares of Goldman Sachs Group in a research note on Tuesday, July 16th. TheStreet raised Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $240.92.
In other news, EVP Dane E. Holmes sold 3,165 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.41% of the stock is owned by company insiders.
Shares of GS stock traded up $3.24 during trading hours on Friday, reaching $199.42. The company had a trading volume of 1,824,900 shares, compared to its average volume of 2,356,249. Goldman Sachs Group Inc has a 12 month low of $151.70 and a 12 month high of $245.08. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day simple moving average of $210.00 and a 200-day simple moving average of $200.19. The company has a market cap of $71.70 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 0.71 and a beta of 1.32.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the company earned $5.98 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that Goldman Sachs Group Inc will post 22.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 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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