The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Cut by Continental Advisors LLC

Continental Advisors LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 50.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,693 shares of the investment management company’s stock after selling 11,000 shares during the period. The Goldman Sachs Group accounts for 1.6% of Continental Advisors LLC’s portfolio, making the stock its 20th biggest holding. Continental Advisors LLC’s holdings in The Goldman Sachs Group were worth $3,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its position in shares of The Goldman Sachs Group by 188.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 6,005 shares of the investment management company’s stock valued at $1,584,000 after purchasing an additional 3,920 shares in the last quarter. Berman Capital Advisors LLC boosted its position in shares of The Goldman Sachs Group by 84.6% during the 4th quarter. Berman Capital Advisors LLC now owns 432 shares of the investment management company’s stock valued at $114,000 after purchasing an additional 198 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of The Goldman Sachs Group by 323.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 336,415 shares of the investment management company’s stock valued at $88,716,000 after purchasing an additional 256,910 shares in the last quarter. Eaton Vance Management boosted its position in shares of The Goldman Sachs Group by 15.6% during the 4th quarter. Eaton Vance Management now owns 1,727,305 shares of the investment management company’s stock valued at $455,508,000 after purchasing an additional 233,114 shares in the last quarter. Finally, Sittner & Nelson LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 71.25% of the company’s stock.

A number of research firms have commented on GS. Credit Suisse Group upped their price objective on shares of The Goldman Sachs Group from $420.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. Barclays set a $437.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, July 14th. Berenberg Bank upped their price objective on shares of The Goldman Sachs Group from $270.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, April 21st. Citigroup upped their price objective on shares of The Goldman Sachs Group from $390.00 to $410.00 in a research note on Friday, April 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $351.00 to $452.00 and gave the company an “overweight” rating in a research note on Wednesday, June 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $392.45.

NYSE:GS traded down $2.12 during mid-day trading on Thursday, reaching $371.38. The stock had a trading volume of 80,799 shares, compared to its average volume of 2,678,760. The company has a 50 day moving average of $370.57. The Goldman Sachs Group, Inc. has a fifty-two week low of $185.52 and a fifty-two week high of $393.26. The company has a market cap of $126.18 billion, a PE ratio of 6.70 and a beta of 1.48. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.81 and a current ratio of 1.20.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 12th. The investment management company reported $15.02 EPS for the quarter, topping analysts’ consensus estimates of $10.24 by $4.78. The Goldman Sachs Group had a return on equity of 22.93% and a net margin of 33.03%. The firm had revenue of $15.39 billion for the quarter, compared to the consensus estimate of $12.17 billion. During the same quarter in the prior year, the company posted $6.26 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. Research analysts predict that The Goldman Sachs Group, Inc. will post 52.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 1st will be issued a $2.00 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 2.15%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $1.25. The Goldman Sachs Group’s dividend payout ratio is currently 14.60%.

About The Goldman Sachs Group

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

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

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