TRUE Private Wealth Advisors acquired a new stake in Goldman Sachs Group Inc (NYSE:GS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 225 shares of the investment management company’s stock, valued at approximately $46,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Alera Investment Advisors LLC lifted its stake in Goldman Sachs Group by 71.8% during the 1st quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 61 shares in the last quarter. CNB Bank increased its position in shares of Goldman Sachs Group by 108.4% during the 1st quarter. CNB Bank now owns 173 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Trustcore Financial Services LLC increased its position in shares of Goldman Sachs Group by 120.0% during the 2nd quarter. Trustcore Financial Services LLC now owns 220 shares of the investment management company’s stock valued at $45,000 after purchasing an additional 120 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Goldman Sachs Group during the 1st quarter valued at $48,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Goldman Sachs Group during the 2nd quarter valued at $51,000. 69.54% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the company. ValuEngine raised Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $240.00 target price on shares of Goldman Sachs Group in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised Goldman Sachs Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $225.00 to $260.00 in a report on Friday, July 26th. BMO Capital Markets lifted their target price on Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $240.92.
Shares of GS traded up $3.24 during trading hours on Friday, reaching $199.42. 1,824,900 shares of the company’s stock traded hands, compared to its average volume of 2,356,249. The stock has a market cap of $71.70 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 0.71 and a beta of 1.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.78. The firm’s 50 day simple moving average is $210.00 and its 200-day simple moving average is $200.19. Goldman Sachs Group Inc has a 12 month low of $151.70 and a 12 month high of $245.08.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results 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 firm 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 company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $5.98 EPS. As a group, analysts expect that Goldman Sachs Group Inc will post 22.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio (DPR) is 13.45%.
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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