BlackRock Inc. Has $4.22 Billion Holdings in Goldman Sachs Group Inc (GS)
BlackRock Inc. lowered its position in Goldman Sachs Group Inc (NYSE:GS) by 1.5% in the first quarter, HoldingsChannel.com reports. The fund owned 21,984,227 shares of the investment management company’s stock after selling 340,017 shares during the quarter. BlackRock Inc. owned 0.06% of Goldman Sachs Group worth $4,220,754,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the business. Toth Financial Advisory Corp raised its position in shares of 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 purchasing an additional 70 shares during the last quarter. Capital Financial Planning LLC acquired a new position in shares of Goldman Sachs Group during the 4th quarter worth about $26,000. CNB Bank raised its position in shares of 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 purchasing an additional 90 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in shares of Goldman Sachs Group during the 4th quarter worth about $29,000. Finally, Loeb Partners Corp acquired a new position in shares of Goldman Sachs Group during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 68.53% of the company’s stock.
Several research analysts recently weighed in on the stock. TheStreet downgraded shares of Goldman Sachs Group from a “b-” rating to a “c” rating in a research report on Monday, May 13th. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. BMO Capital Markets reduced their price target on shares of Goldman Sachs Group from $262.00 to $260.00 and set a “market perform” rating for the company in a research report on Tuesday, April 16th. HSBC set a $202.00 price objective on shares of Goldman Sachs Group and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $235.00 price objective on shares of Goldman Sachs Group in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $239.91.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 15th. The investment management company reported $5.71 EPS for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.97. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $8.89 billion. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.79%. Goldman Sachs Group’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.95 EPS. On average, sell-side analysts expect that Goldman Sachs Group Inc will post 23.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $3.40 dividend on an annualized basis and a yield of 1.76%. Goldman Sachs Group’s dividend payout ratio is presently 12.66%.
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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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