Kennedy Capital Management LLC Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Kennedy Capital Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,595 shares of the investment management company’s stock after selling 2,004 shares during the quarter. Kennedy Capital Management LLC’s holdings in The Goldman Sachs Group were worth $8,206,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its holdings in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the period. Norges Bank bought a new position in The Goldman Sachs Group in the second quarter worth $2,138,031,000. Nuveen LLC purchased a new position in The Goldman Sachs Group during the first quarter valued at $897,185,000. Ninety One UK Ltd bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $408,780,000. Finally, AGF Management Ltd. grew its position in shares of The Goldman Sachs Group by 2,429.6% in the 2nd quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock worth $343,524,000 after buying an additional 466,187 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $836.97 on Friday. The stock has a market cap of $251.03 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.10 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The company’s 50 day moving average is $789.51 and its two-hundred day moving average is $731.57. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $843.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period last year, the firm earned $8.40 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GS. HSBC lifted their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Barclays raised their target price on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Daiwa Capital Markets boosted their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. BMO Capital Markets began coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $785.00 price objective for the company. Finally, Morgan Stanley decreased their price target on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $786.00.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.