RPG Investment Advisory LLC lowered its holdings in Goldman Sachs Group Inc (NYSE:GS) by 31.0% during the first quarter, Holdings Channel reports. The fund owned 31,563 shares of the investment management company’s stock after selling 14,208 shares during the period. RPG Investment Advisory LLC’s holdings in Goldman Sachs Group were worth $6,060,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of GS. Capital Financial Planning LLC acquired a new stake in shares of Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Toth Financial Advisory Corp increased its stake in shares of Goldman Sachs Group by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 70 shares during the period. Liberty Wealth Management LLC acquired a new stake in shares of Goldman Sachs Group in the fourth quarter valued at approximately $29,000. Loeb Partners Corp acquired a new stake in shares of Goldman Sachs Group in the fourth quarter valued at approximately $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Goldman Sachs Group in the fourth quarter valued at approximately $33,000. 70.11% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Dane E. Holmes sold 1,489 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total transaction of $295,283.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.41% of the stock is owned by company insiders.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $5.71 EPS for the quarter, beating the Zacks’ consensus estimate of $4.89 by $0.82. Goldman Sachs Group had a net margin of 28.92% and a return on equity of 13.84%. The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the business earned $6.95 earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. Sell-side analysts anticipate that Goldman Sachs Group Inc will post 23.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 12.66%.
Several equities research analysts have commented on the stock. Wells Fargo & Co dropped their price target on shares of Goldman Sachs Group from $305.00 to $235.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 18th. Zacks Investment Research lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. HSBC set a $202.00 price target on shares of Goldman Sachs Group and gave the company a “neutral” rating in a research note on Thursday, April 4th. Morgan Stanley lowered shares of Goldman Sachs Group to a “sell” rating in a research note on Monday, February 4th. Finally, BMO Capital Markets restated a “hold” rating on shares of Goldman Sachs Group in a research note on Monday, January 21st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $250.08.
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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 through 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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