IBM Retirement Fund Cuts Position in Goldman Sachs Group Inc (GS)
IBM Retirement Fund cut its stake in Goldman Sachs Group Inc (NYSE:GS) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,037 shares of the investment management company’s stock after selling 506 shares during the period. IBM Retirement Fund’s holdings in Goldman Sachs Group were worth $1,008,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in GS. Systematic Financial Management LP increased its position in Goldman Sachs Group by 12.6% in the third quarter. Systematic Financial Management LP now owns 21,028 shares of the investment management company’s stock worth $4,715,000 after buying an additional 2,360 shares during the period. MML Investors Services LLC increased its position in Goldman Sachs Group by 24.6% in the third quarter. MML Investors Services LLC now owns 13,372 shares of the investment management company’s stock worth $2,999,000 after buying an additional 2,641 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Goldman Sachs Group by 2.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 67,682 shares of the investment management company’s stock worth $15,177,000 after buying an additional 1,796 shares during the period. Intersect Capital LLC acquired a new stake in Goldman Sachs Group in the third quarter worth $399,000. Finally, National Asset Management Inc. increased its position in Goldman Sachs Group by 14.2% in the third quarter. National Asset Management Inc. now owns 6,693 shares of the investment management company’s stock worth $1,501,000 after buying an additional 834 shares during the period. Institutional investors own 68.39% of the company’s stock.
Several brokerages have weighed in on GS. BMO Capital Markets reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Monday, January 21st. Morgan Stanley dropped their target price on Goldman Sachs Group from $226.00 to $207.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 8th. Barclays reaffirmed an “equal weight” rating and issued a $247.00 target price (down from $289.00) on shares of Goldman Sachs Group in a research report on Wednesday, January 2nd. Zacks Investment Research lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Monday, December 10th. Finally, Bank of America dropped their target price on Goldman Sachs Group to $280.00 in a research report on Sunday, December 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $255.54.
Shares of GS opened at $198.26 on Friday. The firm has a market cap of $72.72 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.23. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 2.84. Goldman Sachs Group Inc has a one year low of $151.70 and a one year high of $269.85.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 16th. The investment management company reported $6.04 EPS for the quarter, beating analysts’ consensus estimates of $5.15 by $0.89. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.48 billion. Goldman Sachs Group had a return on equity of 13.84% and a net margin of 28.92%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $5.68 earnings per share. Sell-side analysts anticipate that Goldman Sachs Group Inc will post 23.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, February 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, February 27th. Goldman Sachs Group’s dividend payout ratio (DPR) is 12.66%.
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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 through 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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