Parsons Capital Management Inc. RI Acquires 70 Shares of Goldman Sachs Group Inc (NYSE:GS)

Parsons Capital Management Inc. RI increased its holdings in Goldman Sachs Group Inc (NYSE:GS) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,383 shares of the investment management company’s stock after buying an additional 70 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Goldman Sachs Group were worth $692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Roundview Capital LLC grew its stake in shares of Goldman Sachs Group by 23.3% during the 1st quarter. Roundview Capital LLC now owns 9,819 shares of the investment management company’s stock valued at $1,885,000 after purchasing an additional 1,853 shares during the period. McGuire Investment Group LLC grew its stake in shares of Goldman Sachs Group by 4.4% during the 1st quarter. McGuire Investment Group LLC now owns 10,265 shares of the investment management company’s stock valued at $1,971,000 after purchasing an additional 434 shares during the period. Foundry Partners LLC grew its stake in shares of Goldman Sachs Group by 0.5% during the 1st quarter. Foundry Partners LLC now owns 98,638 shares of the investment management company’s stock valued at $18,938,000 after purchasing an additional 495 shares during the period. Busey Wealth Management bought a new stake in shares of Goldman Sachs Group during the 2nd quarter valued at about $3,126,000. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Goldman Sachs Group by 34.4% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,386 shares of the investment management company’s stock valued at $266,000 after purchasing an additional 355 shares during the period. Institutional investors own 69.54% of the company’s stock.

GS has been the subject of a number of recent research reports. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated a “neutral” rating and set a $220.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, July 16th. Deutsche Bank restated a “buy” rating on shares of Goldman Sachs Group in a research note on Friday, June 28th. JPMorgan Chase & Co. restated a “buy” rating and set a $240.00 price target on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Finally, ValuEngine upgraded Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $240.92.



Shares of NYSE:GS traded up $4.05 during mid-day trading on Friday, reaching $200.23. 106,849 shares of the company traded hands, compared to its average volume of 2,334,167. The company’s 50 day moving average price is $209.98 and its 200-day moving average price is $200.19. The firm has a market cap of $73.39 billion, a PE ratio of 7.92, a PEG ratio of 0.75 and a beta of 1.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.85 and a quick ratio of 0.85. Goldman Sachs Group Inc has a 52 week low of $151.70 and a 52 week high of $245.08.

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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.73 by $1.08. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $8.88 billion. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $5.98 EPS. On average, research analysts predict that Goldman Sachs Group Inc will post 22.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $1.25 per share. The ex-dividend date is Thursday, August 29th. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.50%. Goldman Sachs Group’s payout ratio is 13.45%.

In related news, EVP Dane E. Holmes sold 3,165 shares of the business’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 transaction of $671,454.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.41% of the company’s stock.

About Goldman Sachs Group

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.

Further Reading: What is the Quick Ratio?

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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