NewSquare Capital LLC Raises Stock Holdings in The Goldman Sachs Group, Inc. $GS

NewSquare Capital LLC lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 88.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 230 shares of the investment management company’s stock after acquiring an additional 108 shares during the quarter. NewSquare Capital LLC’s holdings in The Goldman Sachs Group were worth $163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC lifted its stake in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock valued at $20,566,005,000 after purchasing an additional 29,053,586 shares during the last quarter. Nuveen LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $897,185,000. Ninety One UK Ltd purchased a new position in The Goldman Sachs Group in the second quarter valued at approximately $408,780,000. Amundi lifted its stake in The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock valued at $967,193,000 after purchasing an additional 225,993 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in The Goldman Sachs Group by 15.6% in the first quarter. Ameriprise Financial Inc. now owns 1,604,472 shares of the investment management company’s stock valued at $874,318,000 after purchasing an additional 216,556 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 0.7%

Shares of NYSE:GS opened at $791.23 on Wednesday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The firm has a fifty day moving average of $775.64 and a 200 day moving average of $696.77. The firm has a market capitalization of $239.52 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the business earned $8.40 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on GS. Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. BMO Capital Markets began coverage on The Goldman Sachs Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $785.00 target price on the stock. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $779.50.

The Goldman Sachs Group Company 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.