Flagship Harbor Advisors LLC raised its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 36.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,095 shares of the investment management company’s stock after acquiring an additional 294 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Goldman Sachs Group were worth $247,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Cannell Peter B & Co. Inc. grew its position in shares of Goldman Sachs Group by 64.0% in the third quarter. Cannell Peter B & Co. Inc. now owns 10,660 shares of the investment management company’s stock valued at $2,390,000 after purchasing an additional 4,160 shares in the last quarter. Park Avenue Securities LLC grew its position in Goldman Sachs Group by 68.2% in the third quarter. Park Avenue Securities LLC now owns 1,877 shares of the investment management company’s stock worth $423,000 after acquiring an additional 761 shares during the period. Comerica Securities Inc. grew its position in Goldman Sachs Group by 4.4% in the third quarter. Comerica Securities Inc. now owns 5,378 shares of the investment management company’s stock worth $1,206,000 after acquiring an additional 225 shares during the period. Holistic Financial Partners purchased a new position in Goldman Sachs Group in the third quarter worth approximately $261,000. Finally, Pegasus Asset Management Inc. grew its position in Goldman Sachs Group by 11.3% in the third quarter. Pegasus Asset Management Inc. now owns 8,742 shares of the investment management company’s stock worth $1,960,000 after acquiring an additional 891 shares during the period. 71.32% of the stock is owned by institutional investors and hedge funds.
NYSE:GS opened at $222.65 on Friday. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.90 and a current ratio of 0.90. Goldman Sachs Group Inc has a 52 week low of $208.40 and a 52 week high of $275.31. The firm has a market cap of $86.03 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.76 and a beta of 1.15.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, topping analysts’ consensus estimates of $5.38 by $0.90. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The company had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.43 billion. During the same period in the prior year, the firm earned $5.02 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Goldman Sachs Group Inc will post 25.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is 16.19%.
GS has been the subject of several analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $285.00 price objective on shares of Goldman Sachs Group in a research report on Monday, September 10th. Wells Fargo & Co reiterated a “buy” rating on shares of Goldman Sachs Group in a research report on Thursday, September 20th. Credit Suisse Group upgraded Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 17th. Zacks Investment Research lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Oppenheimer increased their price objective on Goldman Sachs Group from $304.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $281.84.
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About Goldman Sachs Group
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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