Palisades Hudson Asset Management L.P. trimmed its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,069 shares of the investment management company’s stock after selling 321 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Goldman Sachs Group were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Goldman Sachs Group by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,669,387 shares of the investment management company’s stock valued at $5,531,864,000 after purchasing an additional 307,849 shares during the period. Vanguard Group Inc boosted its stake in Goldman Sachs Group by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 24,669,387 shares of the investment management company’s stock valued at $5,531,864,000 after purchasing an additional 307,849 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Goldman Sachs Group by 3.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,736,573 shares of the investment management company’s stock valued at $2,631,807,000 after purchasing an additional 360,264 shares during the period. Capital International Investors boosted its stake in Goldman Sachs Group by 2,110.7% during the 3rd quarter. Capital International Investors now owns 4,882,975 shares of the investment management company’s stock valued at $1,094,958,000 after purchasing an additional 4,662,095 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Goldman Sachs Group by 7.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,645,733 shares of the investment management company’s stock valued at $817,519,000 after purchasing an additional 243,800 shares during the period. 74.86% of the stock is currently owned by institutional investors.
In other news, VP Gregory K. Palm sold 16,451 shares of the stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $158.41, for a total value of $2,606,002.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.71% of the company’s stock.
Shares of GS stock opened at $191.33 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.49. Goldman Sachs Group Inc has a 12 month low of $151.70 and a 12 month high of $275.31. The company has a market capitalization of $71.17 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.11 and a beta of 1.22.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 16th. The investment management company reported $6.04 EPS for the quarter, topping the Zacks’ consensus estimate of $5.15 by $0.89. Goldman Sachs Group had a return on equity of 13.35% and a net margin of 28.92%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter last year, the company earned $5.68 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Goldman Sachs Group Inc will post 23.87 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, February 28th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.67%. Goldman Sachs Group’s payout ratio is presently 12.66%.
Several brokerages recently weighed in on GS. Zacks Investment Research downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b-” rating in a research note on Tuesday, February 5th. Morgan Stanley downgraded Goldman Sachs Group to a “sell” rating in a research note on Monday, February 4th. BMO Capital Markets reiterated a “hold” rating on shares of Goldman Sachs Group in a research report on Thursday, February 7th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $285.00 price objective on shares of Goldman Sachs Group in a research report on Tuesday, October 16th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $254.88.
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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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