Rehmann Capital Advisory Group Has $411,000 Position in Goldman Sachs Group Inc. (GS)
Rehmann Capital Advisory Group cut its position in Goldman Sachs Group Inc. (NYSE:GS) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 2,763 shares of the investment management company’s stock after selling 43 shares during the period. Rehmann Capital Advisory Group’s holdings in Goldman Sachs Group were worth $411,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its stake in shares of Goldman Sachs Group by 85.5% in the second quarter. JFS Wealth Advisors LLC now owns 2,966 shares of the investment management company’s stock worth $441,000 after buying an additional 1,367 shares during the period. Bank of Montreal Can bought a new stake in Goldman Sachs Group during the second quarter valued at approximately $58,168,000. MSI Financial Services Inc boosted its stake in Goldman Sachs Group by 9.9% in the second quarter. MSI Financial Services Inc now owns 13,186 shares of the investment management company’s stock valued at $1,959,000 after buying an additional 1,188 shares in the last quarter. Financial Architects Inc boosted its stake in Goldman Sachs Group by 4,295.6% in the second quarter. Financial Architects Inc now owns 18,857 shares of the investment management company’s stock valued at $2,802,000 after buying an additional 18,428 shares in the last quarter. Finally, First Niagara Bank boosted its stake in Goldman Sachs Group by 0.7% in the second quarter. First Niagara Bank now owns 4,803 shares of the investment management company’s stock valued at $714,000 after buying an additional 33 shares in the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.
Goldman Sachs Group Inc. (NYSE:GS) traded up 0.13% on Monday, hitting $166.21. 2,030,742 shares of the stock were exchanged. Goldman Sachs Group Inc. has a 52-week low of $138.20 and a 52-week high of $199.90. The firm has a market cap of $70.87 billion, a PE ratio of 15.76 and a beta of 1.68. The stock’s 50 day moving average price is $165.54 and its 200 day moving average price is $158.27.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.72. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter last year, the company earned $1.98 EPS. Equities research analysts forecast that Goldman Sachs Group Inc. will post $14.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.60 dividend on an annualized basis and a yield of 1.56%. Goldman Sachs Group’s payout ratio is currently 24.60%.
Several research firms have recently commented on GS. Vetr cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating and set a $165.45 target price for the company. in a research report on Thursday, September 8th. Nomura reaffirmed a “buy” rating and issued a $197.00 target price (up from $195.00) on shares of Goldman Sachs Group in a research report on Tuesday, July 19th. TheStreet raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. RBC Capital Markets reissued a “hold” rating and set a $150.00 price target (up from $145.00) on shares of Goldman Sachs Group in a research report on Wednesday, July 20th. Finally, Royal Bank Of Canada lifted their price target on shares of Goldman Sachs Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $178.51.
In other Goldman Sachs Group news, insider Sarah G. Smith sold 2,664 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total value of $452,880.00. Following the transaction, the insider now owns 13,075 shares in the company, valued at approximately $2,222,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $166.11, for a total value of $2,325,540.00. Following the completion of the transaction, the executive vice president now owns 33,634 shares in the company, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by company insiders.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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