Goldman Sachs Group Inc (GS) Shares Sold by TCW Group Inc.
TCW Group Inc. reduced its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 39.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,381 shares of the investment management company’s stock after selling 7,417 shares during the quarter. TCW Group Inc.’s holdings in Goldman Sachs Group were worth $2,699,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in Goldman Sachs Group by 223.8% during the second quarter. Quantbot Technologies LP now owns 39,237 shares of the investment management company’s stock worth $8,706,000 after purchasing an additional 27,121 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in Goldman Sachs Group by 29.9% during the second quarter. Tudor Investment Corp ET AL now owns 20,480 shares of the investment management company’s stock worth $4,545,000 after purchasing an additional 4,714 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its stake in Goldman Sachs Group by 23.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 792 shares of the investment management company’s stock worth $180,000 after purchasing an additional 152 shares during the last quarter. Bank of Montreal Can lifted its stake in Goldman Sachs Group by 33.1% during the second quarter. Bank of Montreal Can now owns 392,464 shares of the investment management company’s stock worth $87,090,000 after purchasing an additional 97,532 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in Goldman Sachs Group during the second quarter worth $42,536,000. Institutional investors own 73.35% of the company’s stock.
Several brokerages recently issued reports on GS. Zacks Investment Research cut Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $240.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, October 19th. TheStreet cut Goldman Sachs Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. BMO Capital Markets restated a “hold” rating and set a $202.00 price objective on shares of Goldman Sachs Group in a research note on Friday, October 6th. Finally, J P Morgan Chase & Co set a $260.00 price objective on Goldman Sachs Group and gave the stock a “buy” rating in a research note on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $245.06.
Shares of Goldman Sachs Group Inc (NYSE GS) traded up $4.30 during midday trading on Wednesday, reaching $239.41. The company’s stock had a trading volume of 3,211,600 shares, compared to its average volume of 3,269,108. Goldman Sachs Group Inc has a 1 year low of $209.62 and a 1 year high of $255.15. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $90,310.00, a price-to-earnings ratio of 12.29, a PEG ratio of 1.20 and a beta of 1.48.
Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The firm had revenue of $8.33 billion for the quarter, compared to analyst estimates of $7.59 billion. During the same period last year, the company earned $4.88 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. equities research analysts predict that Goldman Sachs Group Inc will post 19.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Wednesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is 15.58%.
In other news, Vice Chairman Richard J. Gnodde sold 4,951 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $239.95, for a total transaction of $1,187,992.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David M. Solomon sold 12,707 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $237.94, for a total value of $3,023,503.58. The disclosure for this sale can be found here. Insiders have sold 135,177 shares of company stock worth $32,435,160 over the last three months. Corporate insiders own 2.57% of the company’s stock.
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Goldman Sachs Group Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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