Traynor Capital Management Inc. Acquires New Shares in Goldman Sachs Group Inc (NYSE:GS)
Traynor Capital Management Inc. acquired a new stake in shares of Goldman Sachs Group Inc (NYSE:GS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,089 shares of the investment management company’s stock, valued at approximately $225,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Goldman Sachs Group by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock valued at $715,573,000 after buying an additional 411,700 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Goldman Sachs Group by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,112,048 shares of the investment management company’s stock worth $519,812,000 after purchasing an additional 247,616 shares during the period. FMR LLC increased its stake in shares of Goldman Sachs Group by 3.3% in the first quarter. FMR LLC now owns 2,202,807 shares of the investment management company’s stock worth $422,917,000 after purchasing an additional 71,365 shares during the period. New York State Common Retirement Fund increased its stake in shares of Goldman Sachs Group by 4.0% in the first quarter. New York State Common Retirement Fund now owns 1,085,735 shares of the investment management company’s stock worth $208,450,000 after purchasing an additional 42,200 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Goldman Sachs Group by 16.9% in the first quarter. Parametric Portfolio Associates LLC now owns 984,703 shares of the investment management company’s stock worth $189,053,000 after purchasing an additional 142,430 shares during the period. 68.45% of the stock is owned by hedge funds and other institutional investors.
GS has been the topic of several research reports. Morgan Stanley boosted their price target on Goldman Sachs Group from $207.00 to $218.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. BMO Capital Markets boosted their price target on Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $225.00 to $260.00 in a research note on Friday, July 26th. Zacks Investment Research upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price target on the stock in a research note on Tuesday, June 25th. Finally, TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $240.92.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 16th. The investment management company reported $5.81 EPS for the quarter, topping the consensus estimate of $4.73 by $1.08. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $8.88 billion. Goldman Sachs Group had a return on equity of 11.99% and a net margin of 22.09%. Goldman Sachs Group’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $5.98 EPS. Equities research analysts forecast that Goldman Sachs Group Inc will post 22.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $1.25 dividend. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, August 29th. Goldman Sachs Group’s payout ratio is presently 13.45%.
In other news, EVP Dane E. Holmes sold 3,165 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.41% of the stock is owned by insiders.
Goldman Sachs Group Company Profile
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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