Pitcairn Co. lifted its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 124.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,366 shares of the investment management company’s stock after purchasing an additional 4,641 shares during the quarter. Pitcairn Co.’s holdings in Goldman Sachs Group were worth $1,712,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foresters Investment Management Company Inc. boosted its stake in Goldman Sachs Group by 10.9% in the second quarter. Foresters Investment Management Company Inc. now owns 140,222 shares of the investment management company’s stock valued at $28,689,000 after buying an additional 13,822 shares in the last quarter. Cetera Advisor Networks LLC boosted its stake in Goldman Sachs Group by 13.2% in the second quarter. Cetera Advisor Networks LLC now owns 4,969 shares of the investment management company’s stock valued at $1,008,000 after buying an additional 579 shares in the last quarter. Cetera Advisors LLC boosted its stake in Goldman Sachs Group by 30.6% in the second quarter. Cetera Advisors LLC now owns 3,058 shares of the investment management company’s stock valued at $622,000 after buying an additional 717 shares in the last quarter. First Allied Advisory Services Inc. boosted its stake in Goldman Sachs Group by 3.6% in the second quarter. First Allied Advisory Services Inc. now owns 22,489 shares of the investment management company’s stock valued at $4,601,000 after buying an additional 773 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its stake in Goldman Sachs Group by 1.6% in the second quarter. Cannell Peter B & Co. Inc. now owns 3,130 shares of the investment management company’s stock valued at $640,000 after buying an additional 50 shares in the last quarter. 68.78% of the stock is currently owned by institutional investors.
In other news, EVP Dane E. Holmes sold 3,165 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $212.15, for a total transaction of $671,454.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is owned by company insiders.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 16th. The investment management company reported $5.81 EPS for the quarter, beating the consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the company earned $5.98 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Research analysts anticipate that Goldman Sachs Group Inc will post 22.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, August 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is 19.79%.
Several analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. TheStreet raised Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $225.00 to $260.00 in a research report on Friday, July 26th. Royal Bank of Canada reiterated a “neutral” rating and issued a $220.00 target price on shares of Goldman Sachs Group in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $240.92.
Goldman Sachs Group Company Profile
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.
Further Reading: Cash Asset Ratio
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.