United Asset Strategies Inc. increased its holdings in Goldman Sachs Group Inc (NYSE:GS) by 4.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,017 shares of the investment management company’s stock after purchasing an additional 481 shares during the period. United Asset Strategies Inc.’s holdings in Goldman Sachs Group were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital Management Corp VA lifted its stake in Goldman Sachs Group by 9.2% in the 2nd quarter. Capital Management Corp VA now owns 33,284 shares of the investment management company’s stock worth $6,810,000 after purchasing an additional 2,799 shares in the last quarter. Balter Liquid Alternatives LLC lifted its stake in Goldman Sachs Group by 30.2% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 12,621 shares of the investment management company’s stock worth $2,582,000 after purchasing an additional 2,926 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Goldman Sachs Group by 0.7% in the 2nd quarter. Janus Henderson Group PLC now owns 439,077 shares of the investment management company’s stock worth $89,828,000 after purchasing an additional 3,118 shares in the last quarter. Signaturefd LLC lifted its stake in Goldman Sachs Group by 12.3% in the 2nd quarter. Signaturefd LLC now owns 2,794 shares of the investment management company’s stock worth $572,000 after purchasing an additional 307 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Goldman Sachs Group by 3.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 218,551 shares of the investment management company’s stock worth $44,693,000 after purchasing an additional 6,326 shares in the last quarter. 69.54% of the stock is owned by institutional investors.
Several analysts have issued reports on the stock. Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a research note on Friday, June 28th. Keefe, Bruyette & Woods upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $225.00 to $260.00 in a research report on Friday, July 26th. Morgan Stanley raised their price objective on shares of Goldman Sachs Group from $207.00 to $218.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. restated a “buy” rating and set a $240.00 price objective on shares of Goldman Sachs Group in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada restated a “neutral” rating and set a $220.00 price objective on shares of Goldman Sachs Group in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $240.92.
Shares of GS stock traded up $3.48 on Tuesday, hitting $205.00. 137,627 shares of the company’s stock traded hands, compared to its average volume of 2,548,017. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.78. Goldman Sachs Group Inc has a one year low of $151.70 and a one year high of $245.08. The firm’s fifty day moving average is $209.86. The stock has a market cap of $74.39 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.32.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 16th. The investment management company reported $5.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 12.43%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the firm earned $5.98 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Goldman Sachs Group Inc will post 22.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 13.45%.
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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