State Board of Administration of Florida Retirement System lowered its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 9.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 428,436 shares of the investment management company’s stock after selling 43,056 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of Goldman Sachs Group worth $87,658,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GS. Alera Investment Advisors LLC boosted its position in Goldman Sachs Group by 71.8% during the first quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock worth $28,000 after purchasing an additional 61 shares during the period. Next Capital Management LLC bought a new stake in Goldman Sachs Group during the second quarter worth approximately $28,000. CNB Bank boosted its position in Goldman Sachs Group by 108.4% during the first quarter. CNB Bank now owns 173 shares of the investment management company’s stock worth $33,000 after purchasing an additional 90 shares during the period. Trustcore Financial Services LLC boosted its position in Goldman Sachs Group by 120.0% during the second quarter. Trustcore Financial Services LLC now owns 220 shares of the investment management company’s stock worth $45,000 after purchasing an additional 120 shares during the period. Finally, TRUE Private Wealth Advisors bought a new stake in Goldman Sachs Group during the second quarter worth approximately $46,000. 68.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GS traded down $1.29 during trading hours on Tuesday, reaching $200.91. The stock had a trading volume of 58,974 shares, compared to its average volume of 2,315,218. The business’s fifty day moving average is $209.74 and its two-hundred day moving average is $200.19. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $72.19 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 0.73 and a beta of 1.32. Goldman Sachs Group Inc has a twelve month low of $151.70 and a twelve month high of $245.08.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio is presently 13.45%.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price target for the company in a report on Tuesday, June 25th. Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Friday, June 28th. BMO Capital Markets upped their price target on Goldman Sachs Group to $273.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Tuesday, August 6th. Finally, ValuEngine upgraded Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $240.92.
In related news, EVP Dane E. Holmes sold 3,165 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.
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