Community Bank N.A. purchased a new position in Goldman Sachs Group Inc (NYSE:GS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,471 shares of the investment management company’s stock, valued at approximately $291,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. State of Michigan Retirement System raised its holdings in shares of Goldman Sachs Group by 8.3% in the 2nd quarter. State of Michigan Retirement System now owns 79,083 shares of the investment management company’s stock valued at $15,628,000 after purchasing an additional 6,033 shares in the last quarter. Duality Advisers LP acquired a new stake in Goldman Sachs Group in the second quarter valued at $1,998,000. Sciencast Management LP raised its stake in Goldman Sachs Group by 166.6% in the second quarter. Sciencast Management LP now owns 18,875 shares of the investment management company’s stock valued at $3,972,000 after buying an additional 11,796 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Goldman Sachs Group during the 2nd quarter worth about $5,126,000. Finally, Horst & Graben Wealth Management LLC acquired a new position in shares of Goldman Sachs Group during the 2nd quarter worth about $222,000. Institutional investors own 68.02% of the company’s stock.
GS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $230.00 price target on shares of Goldman Sachs Group in a report on Thursday, July 16th. BMO Capital Markets upped their target price on shares of Goldman Sachs Group from $272.00 to $279.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Deutsche Bank upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Co reissued a “buy” rating and issued a $255.00 price target on shares of Goldman Sachs Group in a research report on Tuesday, June 30th. Finally, Barclays raised their price objective on Goldman Sachs Group from $236.00 to $253.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $242.57.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 15th. The investment management company reported $6.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.78 by $2.48. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 8.71%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $9.76 billion. During the same quarter last year, the business earned $5.81 EPS. The business’s revenue was up 40.5% on a year-over-year basis. On average, sell-side analysts anticipate that Goldman Sachs Group Inc will post 18.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $1.25 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. Goldman Sachs Group’s 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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