Golden State Wealth Management LLC trimmed its stake in Goldman Sachs Group Inc (NYSE:GS) by 67.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 529 shares of the investment management company’s stock after selling 1,088 shares during the quarter. Golden State Wealth Management LLC’s holdings in Goldman Sachs Group were worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Next Capital Management LLC acquired a new position in Goldman Sachs Group during the second quarter valued at approximately $28,000. Advantage Investment Management LLC acquired a new position in Goldman Sachs Group during the third quarter valued at approximately $29,000. Motco grew its holdings in Goldman Sachs Group by 146.7% during the second quarter. Motco now owns 148 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in Goldman Sachs Group by 1,153.8% during the second quarter. Tortoise Investment Management LLC now owns 163 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 150 shares during the last quarter. Finally, Marquette Asset Management LLC grew its holdings in Goldman Sachs Group by 91.5% during the third quarter. Marquette Asset Management LLC now owns 157 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. BMO Capital Markets increased their price target on Goldman Sachs Group from $273.00 to $278.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Odeon Capital Group lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer lowered their price target on Goldman Sachs Group from $316.00 to $301.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada set a $220.00 price target on Goldman Sachs Group and gave the company a “neutral” rating in a research report on Monday, October 7th. Finally, TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $244.92.
Shares of GS opened at $222.91 on Friday. The business’s fifty day simple moving average is $209.60 and its two-hundred day simple moving average is $204.66. The company has a market cap of $79.06 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 0.84 and a beta of 1.35. The company has a current ratio of 0.78, a quick ratio of 0.85 and a debt-to-equity ratio of 2.68. Goldman Sachs Group Inc has a 12 month low of $151.70 and a 12 month high of $231.69.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $4.79 earnings per share for the quarter, missing the consensus estimate of $5.03 by ($0.24). Goldman Sachs Group had a net margin of 18.86% and a return on equity of 11.41%. The firm had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the previous year, the company earned $6.28 earnings per share. Goldman Sachs Group’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, research analysts forecast that Goldman Sachs Group Inc will post 21.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $1.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. Goldman Sachs Group’s dividend payout ratio is currently 19.79%.
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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