Prio Wealth Limited Partnership cut its stake in Goldman Sachs Group Inc (NYSE:GS) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,210 shares of the investment management company’s stock after selling 2,482 shares during the period. Goldman Sachs Group makes up approximately 1.3% of Prio Wealth Limited Partnership’s holdings, making the stock its 26th largest holding. Prio Wealth Limited Partnership’s holdings in Goldman Sachs Group were worth $27,176,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in Goldman Sachs Group in the second quarter valued at about $110,000. Crewe Advisors LLC increased its holdings in Goldman Sachs Group by 65.5% in the first quarter. Crewe Advisors LLC now owns 581 shares of the investment management company’s stock valued at $146,000 after buying an additional 230 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Goldman Sachs Group in the first quarter valued at about $151,000. Bedel Financial Consulting Inc. purchased a new position in Goldman Sachs Group in the first quarter valued at about $161,000. Finally, Squar Milner Financial Services LLC purchased a new position in Goldman Sachs Group in the second quarter valued at about $157,000. 72.60% of the stock is owned by institutional investors.
In related news, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total transaction of $2,019,464.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David M. Solomon sold 3,497 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $244.40, for a total transaction of $854,666.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,367 shares of company stock worth $4,819,426. 2.57% of the stock is owned by company insiders.
A number of brokerages have issued reports on GS. ValuEngine cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Zacks Investment Research lowered shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $280.00 price target on shares of Goldman Sachs Group in a research report on Tuesday, July 17th. Finally, Oppenheimer increased their price target on shares of Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $273.41.
GS stock opened at $229.61 on Friday. The company has a market capitalization of $88.27 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.74 and a beta of 1.31. Goldman Sachs Group Inc has a 12 month low of $214.64 and a 12 month high of $275.31. The company has a current ratio of 0.90, a quick ratio of 0.92 and a debt-to-equity ratio of 3.02.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 17th. The investment management company reported $5.98 EPS for the quarter, beating the consensus estimate of $4.66 by $1.32. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The business had revenue of $9.40 billion for the quarter, compared to analyst estimates of $8.74 billion. During the same period in the prior year, the business earned $3.95 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. equities analysts anticipate that Goldman Sachs Group Inc will post 24.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, August 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $3.20 dividend on an annualized basis and a yield of 1.39%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 16.19%.
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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