Northstar Asset Management LLC Sells 100 Shares of Goldman Sachs Group Inc (NYSE:GS)
Northstar Asset Management LLC reduced its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,750 shares of the investment management company’s stock after selling 100 shares during the quarter. Northstar Asset Management LLC’s holdings in Goldman Sachs Group were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Goldman Sachs Group by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock valued at $715,573,000 after purchasing an additional 411,700 shares during the period. Thoroughbred Financial Services LLC increased its position in Goldman Sachs Group by 31,213.5% during the second quarter. Thoroughbred Financial Services LLC now owns 356,034 shares of the investment management company’s stock worth $35,603,000 after acquiring an additional 354,897 shares during the period. Dimensional Fund Advisors LP increased its position in Goldman Sachs Group by 8.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,112,048 shares of the investment management company’s stock worth $519,812,000 after acquiring an additional 247,616 shares during the period. FIL Ltd increased its position in Goldman Sachs Group by 61,981.5% during the first quarter. FIL Ltd now owns 198,040 shares of the investment management company’s stock worth $38,021,000 after acquiring an additional 197,721 shares during the period. Finally, Marshall Wace LLP increased its position in Goldman Sachs Group by 5,158.4% during the first quarter. Marshall Wace LLP now owns 148,760 shares of the investment management company’s stock worth $28,561,000 after acquiring an additional 145,931 shares during the period. 68.47% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Dane E. Holmes sold 3,165 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total value of $671,454.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.41% of the company’s stock.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 16th. The investment management company reported $5.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.73 by $1.08. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $8.88 billion. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 11.99%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $5.98 earnings per share. On average, research analysts forecast that Goldman Sachs Group Inc will post 22.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio is presently 13.45%.
A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Wells Fargo & Co to $59.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of SUZUKI MTR CORP/ADR in a research report on Wednesday, July 17th. Morgan Stanley lowered shares of GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $23.00 to $18.00 in a research report on Tuesday, April 16th. Royal Bank of Canada raised their price target on shares of Johnson Service Group from GBX 180 ($2.35) to GBX 190 ($2.48) and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods raised shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $225.00 to $260.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $240.92.
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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