Twin Capital Management Inc. reduced its position in Goldman Sachs Group Inc (NYSE:GS) by 91.0% in the 2nd quarter, Holdings Channel reports. The firm owned 3,223 shares of the investment management company’s stock after selling 32,637 shares during the quarter. Twin Capital Management Inc.’s holdings in Goldman Sachs Group were worth $659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Goldman Sachs Group by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock worth $715,573,000 after acquiring an additional 411,700 shares during the period. Two Sigma Advisers LP purchased a new stake in Goldman Sachs Group in the fourth quarter worth about $301,000. Mercer Global Advisors Inc. ADV purchased a new stake in Goldman Sachs Group in the first quarter worth about $496,000. Telos Capital Management Inc. raised its holdings in Goldman Sachs Group by 2.6% in the first quarter. Telos Capital Management Inc. now owns 2,020 shares of the investment management company’s stock worth $388,000 after purchasing an additional 52 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC raised its holdings in Goldman Sachs Group by 2.4% in the first quarter. Wells Trecaso Financial Group LLC now owns 14,653 shares of the investment management company’s stock worth $2,813,000 after purchasing an additional 343 shares in the last quarter. 69.54% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Dane E. Holmes sold 3,165 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $212.15, for a total transaction of $671,454.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.41% of the company’s stock.
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 (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 firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the prior year, the company posted $5.98 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts expect that Goldman Sachs Group Inc will post 22.8 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 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 2.51%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio is 13.45%.
A number of brokerages have commented on GS. ValuEngine upgraded shares of Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. Royal Bank of Canada reiterated a “neutral” rating and issued a $220.00 target price on shares of Goldman Sachs Group in a report on Tuesday, July 16th. Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Friday, June 28th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 target price for the company in a report on Tuesday, June 25th. Finally, BMO Capital Markets boosted their target price on shares of Goldman Sachs Group to $273.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $240.92.
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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