Wedbush Securities Inc. lowered its position in Goldman Sachs Group Inc (NYSE:GS) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,174 shares of the investment management company’s stock after selling 1,478 shares during the period. Wedbush Securities Inc.’s holdings in Goldman Sachs Group were worth $1,877,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. Dimensional Fund Advisors LP grew its holdings in shares of Goldman Sachs Group by 8.6% in 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 purchasing an additional 247,616 shares during the last quarter. Geode Capital Management LLC grew its holdings in Goldman Sachs Group by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock worth $715,573,000 after acquiring an additional 411,700 shares in the last quarter. Two Sigma Advisers LP bought a new position in Goldman Sachs Group during the 4th quarter worth about $301,000. Truvestments Capital LLC bought a new position in Goldman Sachs Group during the 1st quarter worth about $47,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Goldman Sachs Group during the 1st quarter worth about $496,000. Institutional investors and hedge funds own 69.54% of the company’s stock.
GS has been the topic of several recent research reports. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Tuesday, August 6th. Morgan Stanley increased their target price on shares of Goldman Sachs Group from $207.00 to $218.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $225.00 to $260.00 in a report on Friday, July 26th. Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Friday, June 28th. Finally, BMO Capital Markets increased their target price on shares of Goldman Sachs Group to $273.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $240.92.
Shares of GS stock traded up $2.30 during mid-day trading on Tuesday, hitting $203.82. 164,555 shares of the stock traded hands, compared to its average volume of 2,548,017. The stock has a market capitalization of $74.39 billion, a PE ratio of 8.06, a P/E/G ratio of 0.76 and a beta of 1.32. The stock’s fifty day moving average price is $209.86. Goldman Sachs Group Inc has a 52-week low of $151.70 and a 52-week high of $245.08. 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 released its quarterly earnings results on Tuesday, July 16th. The investment management company reported $5.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.73 by $1.08. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $8.88 billion. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 12.43%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.98 earnings per share. As a group, sell-side analysts expect that Goldman Sachs Group Inc will post 22.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.45%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio is presently 13.45%.
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.
Featured Article: Consumer behavior in bull markets
Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs Group Inc (NYSE:GS).
Receive News & Ratings for Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.