Davis Rea LTD. decreased its holdings in Goldman Sachs Group Inc (NYSE:GS) by 1.1% in the second quarter, Holdings Channel reports. The firm owned 24,315 shares of the investment management company’s stock after selling 263 shares during the period. Goldman Sachs Group comprises about 2.9% of Davis Rea LTD.’s portfolio, making the stock its 14th largest position. Davis Rea LTD.’s holdings in Goldman Sachs Group were worth $4,975,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Capital Financial Planning LLC acquired a new stake in Goldman Sachs Group during the 4th quarter worth about $26,000. Toth Financial Advisory Corp lifted its position in Goldman Sachs Group by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after acquiring an additional 70 shares during the period. Alera Investment Advisors LLC lifted its position in Goldman Sachs Group by 71.8% during the 1st quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock worth $28,000 after acquiring an additional 61 shares during the period. Liberty Wealth Management LLC acquired a new stake in Goldman Sachs Group during the 4th quarter worth about $29,000. Finally, CNB Bank lifted its position in Goldman Sachs Group by 108.4% during the 1st quarter. CNB Bank now owns 173 shares of the investment management company’s stock worth $33,000 after acquiring an additional 90 shares during the period. 68.47% of the stock is owned by hedge funds and other institutional investors.
Shares of GS stock traded up $5.43 on Tuesday, hitting $219.43. The company had a trading volume of 3,018,518 shares, compared to its average volume of 2,855,121. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 2.43. Goldman Sachs Group Inc has a twelve month low of $151.70 and a twelve month high of $245.08. The company’s 50-day simple moving average is $201.87. The stock has a market capitalization of $78.11 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.79 and a beta of 1.30.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the previous year, the business earned $5.98 EPS. Goldman Sachs Group’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Goldman Sachs Group Inc will post 22.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, August 29th. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s payout ratio is currently 13.45%.
In related news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.41% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the company. Oppenheimer set a $15.00 price objective on Strongbridge Biopharma and gave the company a “buy” rating in a report on Tuesday, March 26th. Odeon Capital Group raised Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research raised FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective for the company in a report on Tuesday, June 25th. Finally, BMO Capital Markets decreased their price objective on Wells Fargo & Co to $59.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $239.18.
Goldman Sachs Group 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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