Concert Wealth Management Inc. boosted its position in Goldman Sachs Group Inc. (NYSE:GS) by 21.3% during the second quarter, Holdings Channel reports. The fund owned 13,909 shares of the investment management company’s stock after buying an additional 2,439 shares during the period. Concert Wealth Management Inc.’s holdings in Goldman Sachs Group were worth $2,056,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Columbia Partners L L C Investment Management boosted its position in Goldman Sachs Group by 22.1% in the first quarter. Columbia Partners L L C Investment Management now owns 7,227 shares of the investment management company’s stock worth $1,134,000 after buying an additional 1,310 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in Goldman Sachs Group during the first quarter worth $3,151,000. Bessemer Group Inc. boosted its position in Goldman Sachs Group by 53.3% in the first quarter. Bessemer Group Inc. now owns 4,510 shares of the investment management company’s stock worth $708,000 after buying an additional 1,568 shares in the last quarter. Algebris Investments UK LLP bought a new position in Goldman Sachs Group during the first quarter worth $816,000. Finally, Aviva PLC boosted its position in Goldman Sachs Group by 0.3% in the first quarter. Aviva PLC now owns 250,121 shares of the investment management company’s stock worth $39,264,000 after buying an additional 652 shares in the last quarter. Institutional investors and hedge funds own 70.77% of the company’s stock.
Shares of Goldman Sachs Group Inc. (NYSE:GS) traded up 0.79% during midday trading on Monday, reaching $171.17. The company had a trading volume of 1,421,313 shares. Goldman Sachs Group Inc. has a 52-week low of $138.20 and a 52-week high of $199.90. The company’s 50-day moving average is $166.41 and its 200-day moving average is $159.29. The firm has a market cap of $72.99 billion, a P/E ratio of 16.23 and a beta of 1.61.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.72. The company earned $7.93 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same period last year, the firm earned $1.98 EPS. Equities research analysts expect that Goldman Sachs Group Inc. will post $14.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.53%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 24.60%.
A number of brokerages have issued reports on GS. 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. upped their target price 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. BMO Capital Markets reissued 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. Finally, Vetr raised Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price target on the stock in a research report on Thursday, September 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $181.07.
In related news, insider Sarah G. Smith sold 2,664 shares of Goldman Sachs Group stock in a transaction on Wednesday, August 31st. The stock was 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 directly owns 13,075 shares of the company’s stock, valued at $2,222,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of Goldman Sachs Group stock in a transaction on Friday, August 26th. The stock was sold at an average price of $166.11, for a total value 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 $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by insiders.
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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