The Manufacturers Life Insurance Company Has $615.55 Million Position in The Goldman Sachs Group, Inc. $GS

The Manufacturers Life Insurance Company cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 19.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 869,720 shares of the investment management company’s stock after selling 208,495 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.29% of The Goldman Sachs Group worth $615,545,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Canada Pension Plan Investment Board boosted its position in shares of The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares during the period. Ignite Planners LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $239,000. Bank of New York Mellon Corp lifted its stake in The Goldman Sachs Group by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after acquiring an additional 157,473 shares in the last quarter. Jump Financial LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $9,596,000. Finally, Wells Trecaso Financial Group LLC grew its stake in shares of The Goldman Sachs Group by 0.5% during the 2nd quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock worth $15,240,000 after acquiring an additional 108 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $890.31 on Thursday. The firm has a market capitalization of $267.03 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.16 and a beta of 1.36. The stock’s 50 day moving average price is $795.42 and its two-hundred day moving average price is $740.03. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $897.20. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.53.

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

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Wall Street Analyst Weigh In

GS has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $750.00 target price (up previously from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday, October 21st. Finally, Dbs Bank increased their price target on The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $786.00.

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.