Dodge & Cox Reduces Stock Position in The Goldman Sachs Group, Inc. $GS

Dodge & Cox decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,306,574 shares of the investment management company’s stock after selling 44,965 shares during the quarter. Dodge & Cox’s holdings in The Goldman Sachs Group were worth $2,340,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GS. Kingstone Capital Partners Texas LLC lifted its stake in shares of The Goldman Sachs Group by 617,504.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock valued at $20,566,005,000 after buying an additional 29,053,586 shares during the period. Norges Bank purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $2,138,031,000. Nuveen LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at $897,185,000. Ninety One UK Ltd acquired a new position in The Goldman Sachs Group in the 2nd quarter valued at $408,780,000. Finally, AGF Management Ltd. lifted its stake in shares of The Goldman Sachs Group by 2,429.6% during the 2nd quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock worth $343,524,000 after purchasing an additional 466,187 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Daiwa Capital Markets raised their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Citigroup increased their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, BMO Capital Markets assumed coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $786.00.

The Goldman Sachs Group Stock Up 0.0%

Shares of NYSE:GS opened at $836.97 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.65 and a current ratio of 0.65. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $843.99. The stock has a market capitalization of $251.03 billion, a P/E ratio of 17.00, a PEG ratio of 1.10 and a beta of 1.36. The stock has a 50-day simple moving average of $789.51 and a 200-day simple moving average of $731.57.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating the consensus estimate of $10.27 by $1.98. The firm had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The Goldman Sachs Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $8.40 earnings per share. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is presently 32.50%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.