Goldman Sachs Group Inc (GS) Position Trimmed by HL Financial Services LLC
HL Financial Services LLC reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 63.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,754 shares of the investment management company’s stock after selling 11,661 shares during the period. HL Financial Services LLC’s holdings in Goldman Sachs Group were worth $1,602,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Goldman Sachs Group by 3,301.2% in the first quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock valued at $5,644,114,000 after purchasing an additional 23,847,154 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Goldman Sachs Group by 1.3% in the second quarter. Vanguard Group Inc. now owns 24,072,777 shares of the investment management company’s stock valued at $5,341,749,000 after purchasing an additional 304,400 shares during the last quarter. State Street Corp increased its holdings in shares of Goldman Sachs Group by 2.7% in the first quarter. State Street Corp now owns 22,851,344 shares of the investment management company’s stock valued at $5,249,408,000 after purchasing an additional 603,165 shares during the last quarter. Capital World Investors grew its stake in shares of Goldman Sachs Group by 10.5% in the second quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock valued at $1,697,442,000 after acquiring an additional 726,582 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Goldman Sachs Group by 4.0% in the second quarter. Capital Research Global Investors now owns 6,918,409 shares of the investment management company’s stock valued at $1,535,195,000 after acquiring an additional 265,784 shares in the last quarter. Hedge funds and other institutional investors own 74.01% of the company’s stock.
Several equities analysts recently commented on GS shares. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Societe Generale set a $198.00 price target on shares of Goldman Sachs Group and gave the company a “sell” rating in a research note on Thursday, October 19th. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Friday, October 13th. Citigroup Inc. restated a “neutral” rating and issued a $250.00 price target (up from $225.00) on shares of Goldman Sachs Group in a research note on Monday, October 9th. Finally, Morgan Stanley upped their price target on shares of Goldman Sachs Group from $265.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $245.06.
Shares of Goldman Sachs Group Inc (GS) opened at $236.07 on Monday. Goldman Sachs Group Inc has a 52-week low of $209.60 and a 52-week high of $255.15. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $89,000.81, a PE ratio of 12.29, a P/E/G ratio of 1.20 and a beta of 1.48.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a net margin of 26.42% and a return on equity of 11.34%. The business had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same quarter in the prior year, the business posted $4.88 earnings per share. Goldman Sachs Group’s revenue was up 2.0% compared to the same quarter last year. analysts expect that Goldman Sachs Group Inc will post 19.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.27%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 15.63%.
In other news, Director David A. Viniar sold 7,393 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $245.18, for a total value of $1,812,615.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.38, for a total transaction of $4,956,873.72. The disclosure for this sale can be found here. Insiders sold 122,470 shares of company stock valued at $29,411,656 in the last three months. Company insiders own 2.57% of the company’s stock.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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