Oppenheimer Asset Management Inc. reduced its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 50.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,599 shares of the investment management company’s stock after selling 1,646 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Goldman Sachs Group were worth $379,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in Goldman Sachs Group by 3,301.2% in the 1st quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock worth $5,644,114,000 after purchasing an additional 23,847,154 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Goldman Sachs Group by 4,096.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock worth $549,415,000 after purchasing an additional 2,416,970 shares in the last quarter. New England Asset Management Inc. increased its holdings in Goldman Sachs Group by 440.8% in the 1st quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company’s stock worth $535,492,000 after purchasing an additional 1,900,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Goldman Sachs Group by 47.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock worth $799,472,000 after purchasing an additional 1,152,869 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its holdings in Goldman Sachs Group by 22,290.9% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,113,050 shares of the investment management company’s stock worth $5,016,000 after purchasing an additional 1,108,079 shares in the last quarter. Institutional investors and hedge funds own 73.35% of the company’s stock.
In other Goldman Sachs Group news, Director David A. Viniar sold 7,393 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $245.18, for a total value of $1,812,615.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Richard J. Gnodde sold 4,951 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $239.95, for a total value of $1,187,992.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,177 shares of company stock worth $32,435,160. Corporate insiders own 2.57% of the company’s stock.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.17 by $0.85. The business had revenue of $8.33 billion for the quarter, compared to analyst estimates of $7.59 billion. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.88 earnings per share. equities analysts expect that Goldman Sachs Group Inc will post 19.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.00 annualized dividend and a yield of 1.17%. Goldman Sachs Group’s payout ratio is currently 15.63%.
GS has been the subject of several recent research reports. Zacks Investment Research raised Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Royal Bank of Canada reissued a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group in a research note on Thursday, August 31st. TheStreet cut Goldman Sachs Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. JMP Securities reissued a “market perform” rating on shares of Goldman Sachs Group in a research note on Wednesday, September 13th. Finally, J P Morgan Chase & Co set a $260.00 price target on Goldman Sachs Group and gave the company a “buy” rating in a research note on Friday, September 15th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $246.10.
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Goldman Sachs Group 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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