Carnegie Lake Advisors LLC Grows Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Carnegie Lake Advisors LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 427 shares of the investment management company’s stock after buying an additional 47 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in The Goldman Sachs Group were worth $233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GS. GAMMA Investing LLC increased its holdings in shares of The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the period. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at $1,766,238,000. Norges Bank acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $944,334,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of The Goldman Sachs Group by 214.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company’s stock valued at $741,018,000 after purchasing an additional 882,099 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $708.31 on Friday. The company has a market cap of $217.34 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $726.00. The business has a 50 day moving average price of $647.01 and a 200-day moving average price of $600.89. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company posted $8.62 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.26%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.85%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GS. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an “outperform” rating in a report on Thursday, July 10th. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Morgan Stanley increased their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Citigroup decreased their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $649.29.

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.