Sit Investment Associates Inc. reduced its position in shares of Goldman Sachs Group Inc. (NYSE:GS) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 24,240 shares of the investment management company’s stock after selling 550 shares during the period. Sit Investment Associates Inc.’s holdings in Goldman Sachs Group were worth $3,602,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Gluskin Sheff & Assoc Inc. bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $43,700,000. Whittier Trust Co. raised its stake in shares of Goldman Sachs Group by 2.0% in the second quarter. Whittier Trust Co. now owns 50,211 shares of the investment management company’s stock worth $7,460,000 after buying an additional 981 shares in the last quarter. Diligent Investors LLC bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $371,000. Huntington National Bank raised its stake in shares of Goldman Sachs Group by 21.1% in the second quarter. Huntington National Bank now owns 36,203 shares of the investment management company’s stock worth $5,379,000 after buying an additional 6,305 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. bought a new stake in shares of Goldman Sachs Group during the second quarter worth approximately $209,000. 70.77% of the stock is owned by institutional investors and hedge funds.
Goldman Sachs Group Inc. (NYSE:GS) traded up 1.60% on Friday, hitting $169.83. The stock had a trading volume of 3,390,036 shares. The company’s 50 day moving average price is $166.30 and its 200 day moving average price is $159.19. Goldman Sachs Group Inc. has a 52-week low of $138.20 and a 52-week high of $199.90. The firm has a market cap of $72.42 billion, a price-to-earnings ratio of 16.10 and a beta of 1.61.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.72. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. The firm earned $7.93 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. Analysts expect that Goldman Sachs Group Inc. will post $14.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Tuesday, August 30th. Goldman Sachs Group’s payout ratio is 24.60%.
A number of analysts recently commented on the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research report on Sunday, June 26th. Oppenheimer Holdings Inc. increased their price target on Goldman Sachs Group from $222.00 to $223.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Vetr raised Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price target for the company in a research report on Thursday, September 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $214.00 price target (up from $197.00) on shares of Goldman Sachs Group in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $181.07.
In other news, insider Sarah G. Smith sold 2,664 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the sale, the insider now owns 13,075 shares of the company’s stock, valued at approximately $2,222,750. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Edith W. Cooper sold 14,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the sale, the executive vice president now directly owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. Insiders own 2.61% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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