Pacer Advisors Inc. Invests $5.49 Million in Goldman Sachs Group Inc (GS) Stock
Pacer Advisors Inc. purchased a new stake in Goldman Sachs Group Inc (NYSE:GS) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 28,592 shares of the investment management company’s stock, valued at approximately $5,489,000.
A number of other hedge funds also recently bought and sold shares of GS. Oregon Public Employees Retirement Fund lifted its holdings in shares of Goldman Sachs Group by 17,481.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,641,354 shares of the investment management company’s stock valued at $100,000 after buying an additional 16,546,702 shares during the period. Norges Bank acquired a new position in shares of Goldman Sachs Group in the fourth quarter worth $474,398,000. Lakewood Capital Management LP acquired a new position in shares of Goldman Sachs Group in the fourth quarter worth $136,480,000. Jennison Associates LLC raised its holdings in shares of Goldman Sachs Group by 17.8% in the fourth quarter. Jennison Associates LLC now owns 4,710,738 shares of the investment management company’s stock worth $786,929,000 after acquiring an additional 710,479 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Goldman Sachs Group by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock worth $715,573,000 after acquiring an additional 411,700 shares during the last quarter. 70.11% of the stock is currently owned by institutional investors.
In other news, EVP Dane E. Holmes sold 1,489 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by company insiders.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, January 16th. The investment management company reported $6.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.15 by $0.89. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.48 billion. Goldman Sachs Group had a net margin of 28.92% and a return on equity of 13.84%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.68 EPS. Equities analysts expect that Goldman Sachs Group Inc will post 23.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 28th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Wednesday, February 27th. Goldman Sachs Group’s payout ratio is currently 12.66%.
GS has been the topic of several recent analyst reports. Atlantic Securities cut Goldman Sachs Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday, December 12th. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a report on Thursday, December 13th. Wells Fargo & Co decreased their price target on shares of Goldman Sachs Group from $305.00 to $235.00 and set an “outperform” rating for the company in a report on Tuesday, December 18th. Credit Suisse Group reissued an “outperform” rating and issued a $250.00 price target (down previously from $258.00) on shares of Goldman Sachs Group in a report on Monday, December 24th. Finally, TheStreet lowered shares of Goldman Sachs Group from a “b-” rating to a “c+” rating in a report on Wednesday, December 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $251.08.
Goldman Sachs Group Company Profile
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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