Iberiabank Corp Sells 3,445 Shares of Goldman Sachs Group Inc (GS)
Iberiabank Corp trimmed its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 49.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,456 shares of the investment management company’s stock after selling 3,445 shares during the quarter. Iberiabank Corp’s holdings in Goldman Sachs Group were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in GS. Capital Financial Planning LLC bought a new position in shares of Goldman Sachs Group in the fourth quarter worth approximately $26,000. Toth Financial Advisory Corp boosted its position in shares of Goldman Sachs Group by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after purchasing an additional 70 shares during the period. Liberty Wealth Management LLC bought a new position in shares of Goldman Sachs Group in the fourth quarter worth approximately $29,000. Loeb Partners Corp bought a new position in shares of Goldman Sachs Group in the fourth quarter worth approximately $33,000. Finally, Riverview Trust Co bought a new position in shares of Goldman Sachs Group in the fourth quarter worth approximately $33,000. Institutional investors own 70.11% of the company’s stock.
A number of research firms have weighed in on GS. Odeon Capital Group upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. BMO Capital Markets reiterated a “hold” rating on shares of Goldman Sachs Group in a research report on Monday, January 21st. Zacks Investment Research lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Bank of America reiterated a “hold” rating and issued a $212.00 price target on shares of Goldman Sachs Group in a research report on Monday, April 15th. Finally, HSBC set a $202.00 price target on shares of Goldman Sachs Group and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $239.91.
Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.97. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.35%. The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the prior year, the business earned $6.95 earnings per share. Goldman Sachs Group’s revenue for the quarter was down 12.6% on a year-over-year basis. Research analysts anticipate that Goldman Sachs Group Inc will post 23.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, May 29th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.66%. Goldman Sachs Group’s dividend payout ratio is currently 12.66%.
In related news, EVP Dane E. Holmes sold 1,489 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total transaction of $295,283.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.41% of the stock is currently owned by corporate insiders.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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