The Goldman Sachs Group, Inc. $GS Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 18.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 48,963 shares of the investment management company’s stock after selling 11,070 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Goldman Sachs Group were worth $34,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Dogwood Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 36 shares during the period. Clearstead Trust LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter worth $31,000. Graney & King LLC grew its position in The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Ridgewood Investments LLC increased its stake in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $39,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $887.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The stock has a 50 day simple moving average of $800.00 and a 200-day simple moving average of $743.23. The company has a market cap of $266.31 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $919.10.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.29% and a net margin of 13.18%.The Goldman Sachs Group’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.40 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GS shares. BNP Paribas Exane increased their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Goldman Sachs Group in a research report on Monday, December 1st. Rothschild & Co Redburn boosted their target price on The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley cut their price target on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Finally, Dbs Bank lifted their price objective on shares of 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 investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $787.06.

About The Goldman Sachs Group

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.