Private Trust Co. NA trimmed its position in Goldman Sachs Group Inc (NYSE:GS) by 17.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,007 shares of the investment management company’s stock after selling 429 shares during the quarter. Private Trust Co. NA’s holdings in Goldman Sachs Group were worth $416,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtus ETF Advisers LLC acquired a new position in shares of Goldman Sachs Group in the fourth quarter worth about $25,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Goldman Sachs Group in the first quarter worth approximately $26,000. Allworth Financial LP lifted its position in shares of Goldman Sachs Group by 68.5% in the first quarter. Allworth Financial LP now owns 187 shares of the investment management company’s stock worth $29,000 after purchasing an additional 76 shares in the last quarter. Arden Trust Co purchased a new stake in shares of Goldman Sachs Group in the first quarter worth approximately $32,000. Finally, Americana Partners LLC bought a new position in Goldman Sachs Group during the fourth quarter valued at approximately $33,000. Institutional investors own 68.07% of the company’s stock.
GS has been the topic of several analyst reports. JMP Securities lowered their price target on Goldman Sachs Group from $290.00 to $270.00 and set a “market outperform” rating on the stock in a report on Thursday, April 9th. Berenberg Bank set a $160.00 price target on Goldman Sachs Group and gave the company a “hold” rating in a report on Thursday, March 26th. Royal Bank of Canada reiterated a “neutral” rating and set a $200.00 price target on shares of Goldman Sachs Group in a report on Friday, July 3rd. UBS Group increased their price target on Goldman Sachs Group from $185.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $255.00 price target on shares of Goldman Sachs Group in a report on Tuesday, June 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. Goldman Sachs Group has an average rating of “Buy” and a consensus target price of $229.73.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, April 15th. The investment management company reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.28. Goldman Sachs Group had a return on equity of 9.26% and a net margin of 14.04%. The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.92 billion. During the same period in the previous year, the business posted $5.71 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Goldman Sachs Group Inc will post 15.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a dividend of $1.25 per share. The ex-dividend date was Friday, May 29th. This represents a $5.00 annualized dividend and a yield of 2.47%. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.
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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