Providence First Trust Co decreased its position in Goldman Sachs Group Inc (NYSE:GS) by 63.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,558 shares of the investment management company’s stock after selling 6,284 shares during the quarter. Providence First Trust Co’s holdings in Goldman Sachs Group were worth $683,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Tradition Capital Management LLC increased its position in Goldman Sachs Group by 15.4% in the first quarter. Tradition Capital Management LLC now owns 13,805 shares of the investment management company’s stock worth $2,650,000 after buying an additional 1,840 shares in the last quarter. Raymond James & Associates increased its position in Goldman Sachs Group by 6.4% in the first quarter. Raymond James & Associates now owns 206,288 shares of the investment management company’s stock worth $39,606,000 after buying an additional 12,339 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Goldman Sachs Group by 37.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 60,148 shares of the investment management company’s stock worth $11,548,000 after buying an additional 16,525 shares in the last quarter. Garrison Asset Management LLC increased its position in Goldman Sachs Group by 8.3% in the first quarter. Garrison Asset Management LLC now owns 7,556 shares of the investment management company’s stock worth $1,451,000 after buying an additional 578 shares in the last quarter. Finally, Cypress Capital Management LLC purchased a new stake in Goldman Sachs Group in the first quarter worth about $211,000. 69.93% of the stock is currently owned by institutional investors.
GS has been the subject of several research analyst reports. ValuEngine upgraded Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 16th. Wells Fargo & Co reiterated a “buy” rating and set a $250.00 target price (up previously from $235.00) on shares of Goldman Sachs Group in a research report on Wednesday, January 16th. Oppenheimer increased their target price on Goldman Sachs Group from $257.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, January 17th. BMO Capital Markets reiterated a “hold” rating on shares of Goldman Sachs Group in a research report on Monday, January 21st. Finally, Societe Generale cut Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $239.91.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.97. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Goldman Sachs Group had a return on equity of 12.79% and a net margin of 25.13%. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.95 EPS. On average, analysts anticipate that Goldman Sachs Group Inc will post 23.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 12.66%.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 1,489 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $198.31, for a total transaction of $295,283.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.41% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Providence First Trust Co Sells 6,284 Shares of Goldman Sachs Group Inc (GS)” was posted by Week Herald and is owned by of Week Herald. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://weekherald.com/2019/05/16/providence-first-trust-co-sells-6284-shares-of-goldman-sachs-group-inc-gs.html.
About Goldman Sachs Group
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.
Recommended Story: What is intrinsic value?
Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs Group Inc (NYSE:GS).
Receive News & Ratings for Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.