BlackRock Inc. Has $5.06 Billion Position in Goldman Sachs Group Inc (GS)
BlackRock Inc. lessened its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,576,744 shares of the investment management company’s stock after selling 324,397 shares during the period. BlackRock Inc. owned approximately 6.07% of Goldman Sachs Group worth $5,062,611,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its stake in Goldman Sachs Group by 7,719.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after purchasing an additional 23,157 shares during the last quarter. Zions Bancorporation purchased a new stake in Goldman Sachs Group during the 2nd quarter valued at $109,000. Palo Capital Inc. purchased a new stake in Goldman Sachs Group during the 3rd quarter valued at $109,000. First Mercantile Trust Co. purchased a new stake in Goldman Sachs Group during the 2nd quarter valued at $110,000. Finally, Asset Advisors Investment Management LLC purchased a new stake in Goldman Sachs Group during the 3rd quarter valued at $115,000. 71.18% of the stock is owned by institutional investors.
Several analysts have commented on GS shares. Zacks Investment Research upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. ValuEngine downgraded Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 15th. BMO Capital Markets increased their target price on Goldman Sachs Group from $261.00 to $276.00 and gave the company a “market perform” rating in a research note on Wednesday, October 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “buy” rating and set a $285.00 target price on shares of Goldman Sachs Group in a research note on Tuesday, October 16th. Finally, Wolfe Research started coverage on Goldman Sachs Group in a research note on Tuesday, September 25th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $276.46.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.38 by $0.90. The firm had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.43 billion. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $5.02 EPS. On average, equities research analysts expect that Goldman Sachs Group Inc will post 25.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.66%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 16.19%.
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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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