FineMark National Bank & Trust reduced its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 50.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 944 shares of the investment management company’s stock after selling 979 shares during the period. FineMark National Bank & Trust’s holdings in Goldman Sachs Group were worth $212,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GS. Moneta Group Investment Advisors LLC boosted its position in shares of 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 position in shares of Goldman Sachs Group during the 2nd quarter worth about $109,000. Palo Capital Inc. bought a new position in shares of Goldman Sachs Group during the 3rd quarter worth about $109,000. First Mercantile Trust Co. bought a new position in shares of Goldman Sachs Group during the 2nd quarter worth about $110,000. Finally, Asset Advisors Investment Management LLC bought a new position in shares of Goldman Sachs Group during the 3rd quarter worth about $115,000. Hedge funds and other institutional investors own 71.32% of the company’s stock.
A number of equities analysts have recently issued reports on GS shares. JPMorgan Chase & Co. reissued a “buy” rating and set a $280.00 price objective on shares of Goldman Sachs Group in a research report on Tuesday, July 17th. Wells Fargo & Co reissued a “buy” rating on shares of Goldman Sachs Group in a research report on Thursday, September 20th. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price objective on the stock in a research report on Friday, July 20th. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating on the stock in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $281.84.
Shares of NYSE GS opened at $222.65 on Friday. Goldman Sachs Group Inc has a fifty-two week low of $208.40 and a fifty-two week high of $275.31. The stock has a market capitalization of $86.03 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 0.76 and a beta of 1.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.04.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.38 by $0.90. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The business had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.43 billion. During the same quarter last year, the firm earned $5.02 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Goldman Sachs Group Inc will post 25.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be given a $0.80 dividend. The ex-dividend date is Thursday, November 29th. This represents a $3.20 annualized dividend and a yield of 1.44%. Goldman Sachs Group’s payout ratio is 16.19%.
About Goldman Sachs Group
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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