Turn8 Private Wealth Inc. Has $4.10 Million Position in The Goldman Sachs Group, Inc. $GS

Turn8 Private Wealth Inc. reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,732 shares of the investment management company’s stock after selling 447 shares during the period. The Goldman Sachs Group accounts for approximately 3.0% of Turn8 Private Wealth Inc.’s portfolio, making the stock its 10th largest holding. Turn8 Private Wealth Inc.’s holdings in The Goldman Sachs Group were worth $4,104,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GS. Kingstone Capital Partners Texas LLC lifted its stake in shares of The Goldman Sachs Group by 617,504.5% during the 2nd 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 buying an additional 29,053,586 shares in the last quarter. Nuveen LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $897,185,000. Ninety One UK Ltd purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth $408,780,000. AGF Management Ltd. boosted its holdings in shares of The Goldman Sachs Group by 2,429.6% in the second quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock worth $343,524,000 after acquiring an additional 466,187 shares during the period. Finally, Amundi boosted its holdings in shares of 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 worth $967,193,000 after acquiring an additional 225,993 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. HSBC increased their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley lowered their target price on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $779.50.

Insider Activity

In other news, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

GS stock opened at $810.21 on Wednesday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The stock has a market cap of $243.00 billion, a PE ratio of 16.46, a P/E/G ratio of 1.43 and a beta of 1.41. The firm has a 50 day simple moving average of $780.67 and a two-hundred day simple moving average of $706.15.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating 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 firm had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company posted $8.40 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

About The Goldman Sachs Group

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.