Goldman Sachs Group Inc (NYSE:GS) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC cut its holdings in Goldman Sachs Group Inc (NYSE:GS) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,608 shares of the investment management company’s stock after selling 268 shares during the period. Cornerstone Investment Partners LLC’s holdings in Goldman Sachs Group were worth $318,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Goldman Sachs Group in the 1st quarter valued at about $26,000. Howe & Rusling Inc. acquired a new position in Goldman Sachs Group during the 2nd quarter valued at about $35,000. Allworth Financial LP boosted its stake in Goldman Sachs Group by 68.5% during the 1st quarter. Allworth Financial LP now owns 187 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 76 shares during the period. Arden Trust Co acquired a new position in Goldman Sachs Group during the 1st quarter valued at about $32,000. Finally, Ninety One SA PTY Ltd acquired a new position in Goldman Sachs Group during the 1st quarter valued at about $33,000. 68.02% of the stock is owned by institutional investors and hedge funds.

Goldman Sachs Group stock traded down $1.57 during trading hours on Friday, hitting $197.96. The company had a trading volume of 2,401,074 shares, compared to its average volume of 3,834,824. The firm has a market capitalization of $68.08 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 4.57 and a beta of 1.46. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.24 and a quick ratio of 0.79. The firm’s fifty day moving average is $202.93 and its 200-day moving average is $199.51. Goldman Sachs Group Inc has a fifty-two week low of $130.85 and a fifty-two week high of $250.46.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, July 15th. The investment management company reported $6.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.78 by $2.48. The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $9.76 billion. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 8.71%. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.81 EPS. Analysts anticipate that Goldman Sachs Group Inc will post 18.11 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a $1.25 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.00 annualized dividend and a yield of 2.53%. Goldman Sachs Group’s dividend payout ratio is presently 23.78%.

A number of research analysts have issued reports on GS shares. Cfra raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and reduced their target price for the company from $220.00 to $210.00 in a research note on Wednesday, April 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $230.00 price target on shares of Goldman Sachs Group in a research note on Thursday, July 16th. Bank of America upped their price target on shares of Goldman Sachs Group from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. BMO Capital Markets upped their price target on shares of Goldman Sachs Group from $272.00 to $279.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, DA Davidson upped their price target on shares of Goldman Sachs Group from $215.00 to $238.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $242.57.

Goldman Sachs Group 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.

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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