Kings Point Capital Management decreased its position in Goldman Sachs Group, Inc. (The) (NYSE:GS) by 91.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,657 shares of the investment management company’s stock after selling 16,837 shares during the period. Kings Point Capital Management’s holdings in Goldman Sachs Group, Inc. (The) were worth $381,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of GS. Quadrature Capital Ltd acquired a new position in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth approximately $7,102,000. Aspen Investment Management Inc increased its position in shares of Goldman Sachs Group, Inc. (The) by 1.7% in the fourth quarter. Aspen Investment Management Inc now owns 3,004 shares of the investment management company’s stock worth $719,000 after buying an additional 50 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Goldman Sachs Group, Inc. (The) by 27.2% in the fourth quarter. Teachers Advisors LLC now owns 1,421,066 shares of the investment management company’s stock worth $340,274,000 after buying an additional 303,579 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Goldman Sachs Group, Inc. (The) during the fourth quarter worth $6,426,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Goldman Sachs Group, Inc. (The) during the fourth quarter worth $2,867,000. 73.72% of the stock is currently owned by institutional investors.
Shares of Goldman Sachs Group, Inc. (NYSE:GS) opened at 231.01 on Thursday. The firm has a market capitalization of $93.07 billion, a PE ratio of 12.11 and a beta of 1.42. The stock has a 50 day moving average of $224.19 and a 200-day moving average of $229.87. Goldman Sachs Group, Inc. has a 52 week low of $157.77 and a 52 week high of $255.15.
Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a return on equity of 11.27% and a net margin of 26.44%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the previous year, the business earned $3.72 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Equities analysts anticipate that Goldman Sachs Group, Inc. will post $18.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.30%. Goldman Sachs Group, Inc. (The)’s payout ratio is currently 15.74%.
Goldman Sachs Group, Inc. (The) declared that its board has approved a share repurchase plan on Tuesday, April 18th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the investment management company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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A number of equities research analysts recently weighed in on GS shares. Deutsche Bank AG reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Monday, July 3rd. Royal Bank Of Canada decreased their price target on shares of Goldman Sachs Group, Inc. (The) to $250.00 and set a “neutral” rating for the company in a report on Tuesday, April 18th. Capital One Financial Corporation reaffirmed a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $260.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, June 26th. Finally, Buckingham Research reiterated a “neutral” rating and issued a $243.00 price objective (up from $235.00) on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $235.25.
In related news, Director David A. Viniar sold 4,590 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $227.79, for a total value of $1,045,556.10. Following the sale, the director now directly owns 854,925 shares in the company, valued at $194,743,365.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Solomon sold 3,260 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $231.59, for a total value of $754,983.40. Following the completion of the sale, the insider now owns 177,594 shares in the company, valued at $41,128,994.46. The disclosure for this sale can be found here. Insiders own 2.57% of the company’s stock.
Goldman Sachs Group, Inc. (The) Company Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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