Investment Management Corp of Ontario Increases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Investment Management Corp of Ontario boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 75.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,614 shares of the investment management company’s stock after acquiring an additional 9,738 shares during the quarter. Investment Management Corp of Ontario’s holdings in The Goldman Sachs Group were worth $16,005,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GS. Tripletail Wealth Management LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $367,000. Daiwa Securities Group Inc. lifted its stake in The Goldman Sachs Group by 2.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 131,456 shares of the investment management company’s stock valued at $93,037,000 after buying an additional 3,121 shares in the last quarter. Certuity LLC boosted its holdings in The Goldman Sachs Group by 6.1% in the 2nd quarter. Certuity LLC now owns 1,471 shares of the investment management company’s stock worth $1,038,000 after buying an additional 84 shares during the last quarter. Sentinus LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $204,000. Finally, L2 Asset Management LLC raised its holdings in shares of The Goldman Sachs Group by 4.8% during the second quarter. L2 Asset Management LLC now owns 1,389 shares of the investment management company’s stock valued at $983,000 after acquiring an additional 63 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $866.22 on Tuesday. The company has a market capitalization of $259.81 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.13 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $870.56. The stock’s fifty day moving average is $791.77 and its two-hundred day moving average is $737.02. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.53.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business earned $8.40 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 1.8%. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Evercore ISI raised their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Morgan Stanley lowered their target price on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. UBS Group increased their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, Barclays raised their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $786.00.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.