Pinebridge Investments L.P. boosted its stake in Goldman Sachs Group Inc (NYSE:GS) by 15.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,751 shares of the investment management company’s stock after acquiring an additional 12,200 shares during the period. Pinebridge Investments L.P.’s holdings in Goldman Sachs Group were worth $18,977,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Goldman Sachs Group by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock valued at $715,573,000 after buying an additional 411,700 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Goldman Sachs Group by 44.7% in the first quarter. Gamco Investors INC. ET AL now owns 3,510 shares of the investment management company’s stock valued at $674,000 after acquiring an additional 1,085 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in Goldman Sachs Group by 27.5% in the first quarter. Cornerstone Advisors Inc. now owns 589 shares of the investment management company’s stock valued at $113,000 after acquiring an additional 127 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Goldman Sachs Group by 295.5% in the first quarter. Victory Capital Management Inc. now owns 20,477 shares of the investment management company’s stock valued at $3,931,000 after acquiring an additional 15,299 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Goldman Sachs Group in the first quarter valued at approximately $225,000. Institutional investors and hedge funds own 69.17% of the company’s stock.
A number of research analysts recently commented on GS shares. BMO Capital Markets upped their price objective on Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $225.00 to $260.00 in a research note on Friday, July 26th. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated a “neutral” rating and set a $220.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, July 16th. Finally, Zacks Investment Research upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price target on the stock in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $240.92.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the prior year, the company earned $5.98 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Goldman Sachs Group Inc will post 22.81 EPS for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date is Thursday, August 29th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio is currently 19.79%.
In other 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 transaction of $671,454.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.
Goldman Sachs Group 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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