Institute for Wealth Management LLC. trimmed its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 100.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the investment management company’s stock after selling 99,999,574 shares during the period. Institute for Wealth Management LLC.’s holdings in Goldman Sachs Group were worth $1,535,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Goldman Sachs Group by 10.6% in the fourth 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 period. Two Sigma Advisers LP purchased a new position in Goldman Sachs Group in the fourth quarter valued at $301,000. Mercer Global Advisors Inc. ADV purchased a new position in Goldman Sachs Group in the first quarter valued at $496,000. Asset Dedication LLC boosted its holdings in Goldman Sachs Group by 31.1% in the first quarter. Asset Dedication LLC now owns 4,001 shares of the investment management company’s stock valued at $764,000 after purchasing an additional 949 shares during the period. Finally, Strs Ohio boosted its holdings in Goldman Sachs Group by 0.3% in the first quarter. Strs Ohio now owns 310,206 shares of the investment management company’s stock valued at $59,556,000 after purchasing an additional 782 shares during the period. 69.54% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a report on Wednesday, July 17th. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Odeon Capital Group upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $225.00 to $260.00 in a research note on Friday, July 26th. Finally, Royal Bank of Canada restated a “neutral” rating and issued a $220.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $240.92.
GS traded up $3.24 during trading on Friday, reaching $199.42. The company’s stock had a trading volume of 1,824,900 shares, compared to its average volume of 2,312,395. Goldman Sachs Group Inc has a 52-week low of $151.70 and a 52-week high of $245.08. The company’s fifty day moving average price is $210.00 and its 200-day moving average price is $200.19. The company has a market capitalization of $70.54 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 0.72 and a beta of 1.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.85 and a current ratio of 0.85.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 in the previous year, the company earned $5.98 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that Goldman Sachs Group Inc will post 22.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 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 payout ratio is currently 13.45%.
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 document filed with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by insiders.
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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