Hound Partners LLC Invests $56.62 Million in The Goldman Sachs Group, Inc. $GS

Hound Partners LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 80,000 shares of the investment management company’s stock, valued at approximately $56,620,000. The Goldman Sachs Group accounts for 7.7% of Hound Partners LLC’s portfolio, making the stock its 6th biggest position.

Several other hedge funds have also made changes to their positions in the business. Dogwood Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 1,800.0% during the second 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 stake in The Goldman Sachs Group during the 2nd quarter worth about $31,000. Graney & King LLC raised its position in The Goldman Sachs Group by 51.5% in 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 boosted its stake in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Rothschild & Co Redburn lifted their price objective on shares of The Goldman Sachs Group from $608.00 to $748.00 and gave the stock a “neutral” rating in a research report on Friday. BNP Paribas Exane increased their target price on The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $787.06.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $887.90 on Friday. The company’s 50 day simple moving average is $800.00 and its 200-day simple moving average is $743.23. The firm has a market cap of $266.31 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $919.10. 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 Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The business had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the business posted $8.40 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid 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 is presently 32.50%.

The Goldman Sachs Group Profile

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.