Prospera Financial Services Inc acquired a new stake in shares of Goldman Sachs Group Inc (NYSE:GS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,052 shares of the investment management company’s stock, valued at approximately $348,000.
Several other hedge funds have also recently made changes to their positions in the company. Thoroughbred Financial Services LLC grew its stake in Goldman Sachs Group by 31,213.5% during the second quarter. Thoroughbred Financial Services LLC now owns 356,034 shares of the investment management company’s stock valued at $35,603,000 after acquiring an additional 354,897 shares in the last quarter. Prudential Financial Inc. grew its stake in Goldman Sachs Group by 41.5% during the second quarter. Prudential Financial Inc. now owns 1,197,657 shares of the investment management company’s stock valued at $245,040,000 after acquiring an additional 351,337 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Goldman Sachs Group by 6.3% during the second quarter. Bank of New York Mellon Corp now owns 4,362,498 shares of the investment management company’s stock valued at $892,567,000 after acquiring an additional 258,059 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Goldman Sachs Group by 163.6% in the 2nd quarter. Renaissance Technologies LLC now owns 380,500 shares of the investment management company’s stock worth $77,850,000 after buying an additional 236,168 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Goldman Sachs Group by 61,981.5% in the 1st quarter. FIL Ltd now owns 198,040 shares of the investment management company’s stock worth $38,021,000 after buying an additional 197,721 shares in the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.
In related news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $212.15, for a total transaction of $671,454.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.41% of the stock is currently owned by insiders.
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, topping analysts’ consensus estimates of $4.73 by $1.08. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 12.43%. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period 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. On average, sell-side analysts expect that Goldman Sachs Group Inc will post 22.81 EPS for the current year.
The company also recently declared 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 a boost 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 2.31%. Goldman Sachs Group’s payout ratio is currently 19.79%.
A number of equities analysts have commented on the stock. TheStreet raised shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Odeon Capital Group cut shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods raised shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $225.00 to $260.00 in a research note on Friday, July 26th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Finally, BMO Capital Markets lifted their price objective on shares of Goldman Sachs Group to $273.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $240.92.
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.
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