Kiwi Wealth Investments Limited Partnership reduced its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 14.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,562 shares of the investment management company’s stock after selling 3,898 shares during the period. Kiwi Wealth Investments Limited Partnership’s holdings in Goldman Sachs Group were worth $5,197,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in GS. Summit Trail Advisors LLC lifted its holdings in shares of Goldman Sachs Group by 24,200.2% during the 1st quarter. Summit Trail Advisors LLC now owns 944,790 shares of the investment management company’s stock worth $945,000 after acquiring an additional 940,902 shares during the period. Renaissance Technologies LLC raised its holdings in Goldman Sachs Group by 716.4% in the second quarter. Renaissance Technologies LLC now owns 801,657 shares of the investment management company’s stock valued at $176,821,000 after buying an additional 703,457 shares during the period. Investec Asset Management LTD raised its holdings in Goldman Sachs Group by 360.3% in the second quarter. Investec Asset Management LTD now owns 704,170 shares of the investment management company’s stock valued at $155,319,000 after buying an additional 551,181 shares during the period. Millennium Management LLC raised its holdings in Goldman Sachs Group by 100.6% in the first quarter. Millennium Management LLC now owns 999,532 shares of the investment management company’s stock valued at $251,742,000 after buying an additional 501,354 shares during the period. Finally, PointState Capital LP purchased a new position in Goldman Sachs Group in the first quarter valued at approximately $109,184,000. Institutional investors and hedge funds own 71.04% of the company’s stock.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,488 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total value of $2,019,464.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David M. Solomon sold 8,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total transaction of $1,945,294.56. The disclosure for this sale can be found here. 2.57% of the stock is owned by company insiders.
Shares of NYSE:GS opened at $234.78 on Friday. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group Inc has a 52-week low of $214.64 and a 52-week high of $275.31. The company has a market capitalization of $89.69 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.75 and a beta of 1.27.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter last year, the company earned $3.95 earnings per share. Goldman Sachs Group’s revenue for the quarter was up 19.2% on a year-over-year basis. analysts anticipate that Goldman Sachs Group Inc will post 24.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, August 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, August 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is 16.19%.
GS has been the topic of several research reports. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price target on the stock in a report on Friday, July 20th. JPMorgan Chase & Co. restated a “buy” rating and issued a $280.00 price target on shares of Goldman Sachs Group in a report on Tuesday, July 17th. Societe Generale upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Keefe, Bruyette & Woods cut their price target on shares of Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating on the stock in a report on Wednesday, July 18th. Finally, Oppenheimer raised their price target on shares of Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $273.41.
Goldman Sachs Group 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.
Featured Story: Short Selling – Explanation For Shorting Stocks
Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs Group Inc (NYSE:GS).
Receive News & Ratings for Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.