Beese Fulmer Investment Management Inc. decreased its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 2.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,675 shares of the investment management company’s stock after selling 413 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Goldman Sachs Group were worth $4,230,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Savant Capital LLC lifted its holdings in Goldman Sachs Group by 3.0% during the first quarter. Savant Capital LLC now owns 1,731 shares of the investment management company’s stock worth $332,000 after buying an additional 50 shares during the period. Wall Street Access Asset Management LLC lifted its holdings in Goldman Sachs Group by 2.9% during the fourth quarter. Wall Street Access Asset Management LLC now owns 1,818 shares of the investment management company’s stock worth $304,000 after buying an additional 51 shares during the period. Telos Capital Management Inc. lifted its holdings in Goldman Sachs Group by 2.6% during the first quarter. Telos Capital Management Inc. now owns 2,020 shares of the investment management company’s stock worth $388,000 after buying an additional 52 shares during the period. NBT Bank N A NY lifted its holdings in Goldman Sachs Group by 0.6% during the first quarter. NBT Bank N A NY now owns 8,610 shares of the investment management company’s stock worth $1,653,000 after buying an additional 53 shares during the period. Finally, First American Trust FSB lifted its holdings in Goldman Sachs Group by 0.3% during the first quarter. First American Trust FSB now owns 17,817 shares of the investment management company’s stock worth $3,421,000 after buying an additional 54 shares during the period. 68.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on GS. BMO Capital Markets lowered their target price on Wells Fargo & Co to $59.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Royal Bank of Canada increased their price objective on Johnson Service Group from GBX 180 ($2.35) to GBX 190 ($2.48) and gave the company an “outperform” rating in a report on Tuesday, July 16th. Odeon Capital Group upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Bank of America reiterated a “hold” rating and set a $212.00 price objective on shares of Goldman Sachs Group in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $239.18.
Shares of NYSE GS traded up $5.43 during mid-day trading on Tuesday, hitting $219.43. The stock had a trading volume of 3,018,518 shares, compared to its average volume of 2,855,121. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.86 and a current ratio of 0.85. The stock’s 50 day moving average price is $201.87. Goldman Sachs Group Inc has a twelve month low of $151.70 and a twelve month high of $245.08. The stock has a market cap of $78.11 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.79 and a beta of 1.30.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 11.99% and a net margin of 22.09%. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the prior year, the firm earned $5.98 EPS. The firm’s revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Goldman Sachs Group Inc will post 22.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.28%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio is presently 13.45%.
In related news, EVP Dane E. Holmes sold 3,165 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is owned by corporate insiders.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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