Redpoint Investment Management Pty Ltd increased its stake in Goldman Sachs Group Inc (NYSE:GS) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,450 shares of the investment management company’s stock after acquiring an additional 576 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Goldman Sachs Group were worth $5,034,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of GS. Renaissance Technologies LLC lifted its stake in shares of Goldman Sachs Group by 716.4% in the second quarter. Renaissance Technologies LLC now owns 801,657 shares of the investment management company’s stock worth $176,821,000 after acquiring an additional 703,457 shares during the period. Investec Asset Management LTD increased its holdings in Goldman Sachs Group by 360.3% in the second quarter. Investec Asset Management LTD now owns 704,170 shares of the investment management company’s stock worth $155,319,000 after purchasing an additional 551,181 shares in the last quarter. Prudential Financial Inc. increased its holdings in Goldman Sachs Group by 83.4% in the third quarter. Prudential Financial Inc. now owns 1,025,962 shares of the investment management company’s stock worth $230,062,000 after purchasing an additional 466,410 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in Goldman Sachs Group in the third quarter worth approximately $82,012,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Goldman Sachs Group by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,736,573 shares of the investment management company’s stock worth $2,631,807,000 after purchasing an additional 360,264 shares in the last quarter. 72.51% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on GS shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $285.00 target price on shares of Goldman Sachs Group in a report on Monday, September 10th. Zacks Investment Research downgraded Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a report on Thursday. Wolfe Research started coverage on Goldman Sachs Group in a report on Tuesday, September 25th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Thursday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $281.21.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.38 by $0.90. The firm had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.43 billion. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.02 earnings per share. On average, equities analysts anticipate that Goldman Sachs Group Inc will post 25.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, November 29th. This represents a $3.20 annualized dividend and a dividend yield of 1.57%. Goldman Sachs Group’s dividend payout ratio is 16.19%.
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Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through 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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