Valicenti Advisory Services Inc. grew its stake in Goldman Sachs Group Inc (NYSE:GS) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,091 shares of the investment management company’s stock after acquiring an additional 445 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in Goldman Sachs Group were worth $3,160,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in Goldman Sachs Group by 7,719.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock worth $104,000 after purchasing an additional 23,157 shares in the last quarter. Zions Bancorporation bought a new stake in Goldman Sachs Group during the 2nd quarter worth approximately $109,000. First Mercantile Trust Co. bought a new stake in Goldman Sachs Group during the 2nd quarter worth approximately $110,000. Squar Milner Financial Services LLC bought a new stake in Goldman Sachs Group during the 2nd quarter worth approximately $157,000. Finally, Canton Hathaway LLC bought a new stake in Goldman Sachs Group during the 3rd quarter worth approximately $174,000. 70.99% of the stock is owned by institutional investors.
A number of analysts recently issued reports on GS shares. JPMorgan Chase & Co. reissued a “buy” rating and set a $285.00 target price on shares of Goldman Sachs Group in a research note on Monday, September 10th. Credit Suisse Group raised Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 17th. Keefe, Bruyette & Woods lowered their target price on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a research note on Wednesday, July 18th. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 target price for the company in a research note on Friday, July 20th. Finally, Wolfe Research started coverage on Goldman Sachs Group in a research note on Tuesday, September 25th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $276.90.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.38 by $0.90. Goldman Sachs Group had a return on equity of 13.58% and a net margin of 15.72%. The firm had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.43 billion. During the same quarter in the prior year, the firm posted $5.02 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Goldman Sachs Group Inc will post 24.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 16.19%.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,488 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total transaction of $2,019,464.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.71% of the company’s stock.
Goldman Sachs Group 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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