Lazard Asset Management LLC Trims Position in The Goldman Sachs Group, Inc. $GS

Lazard Asset Management LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 575,614 shares of the investment management company’s stock after selling 187,503 shares during the period. Lazard Asset Management LLC owned 0.19% of The Goldman Sachs Group worth $407,389,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dogwood Wealth Management LLC increased its holdings in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after acquiring an additional 36 shares during the period. Clearstead Trust LLC purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at $31,000. Graney & King LLC grew its position in shares of The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. Ridgewood Investments LLC increased its holdings in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth $39,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Price Performance

GS opened at $887.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $266.31 billion, a P/E ratio of 18.04, a PEG ratio of 1.20 and a beta of 1.36. The stock has a 50-day moving average price of $800.00 and a 200-day moving average price of $743.23. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $919.10.

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

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 32.50%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GS shares. Daiwa Capital Markets lifted their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. BMO Capital Markets started coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price target on the stock. Citigroup lifted their price target on The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Dbs Bank upped their price objective on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $787.06.

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.