Goldman Sachs (GS) Position Trimmed by Northern Trust Corp
Northern Trust Corp lowered its stake in Goldman Sachs (NYSE:GS) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,339,828 shares of the investment management company’s stock after selling 76,348 shares during the period. Northern Trust Corp owned 1.15% of Goldman Sachs worth $1,093,028,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in GS. ETRADE Capital Management LLC raised its position in shares of Goldman Sachs by 43.0% in the 4th quarter. ETRADE Capital Management LLC now owns 3,886 shares of the investment management company’s stock worth $990,000 after purchasing an additional 1,169 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Goldman Sachs in the 4th quarter worth about $27,652,000. Wealthfront Inc. raised its position in shares of Goldman Sachs by 18.3% in the 4th quarter. Wealthfront Inc. now owns 14,428 shares of the investment management company’s stock worth $3,676,000 after purchasing an additional 2,232 shares during the last quarter. Circle Wealth Management LLC raised its position in Goldman Sachs by 17.6% in the 4th quarter. Circle Wealth Management LLC now owns 47,702 shares of the investment management company’s stock worth $12,153,000 after buying an additional 7,122 shares during the last quarter. Finally, Ferris Capital LLC raised its position in Goldman Sachs by 43.2% in the 4th quarter. Ferris Capital LLC now owns 4,971 shares of the investment management company’s stock worth $1,266,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
A number of equities analysts have weighed in on the company. ValuEngine lowered Goldman Sachs from a “buy” rating to a “hold” rating in a research report on Saturday, April 21st. Zacks Investment Research raised Goldman Sachs from a “hold” rating to a “strong-buy” rating and set a $292.00 target price for the company in a research report on Friday, April 20th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Goldman Sachs in a research report on Wednesday, April 18th. Credit Suisse Group boosted their target price on Goldman Sachs from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 18th. Finally, Oppenheimer boosted their target price on Goldman Sachs from $280.00 to $308.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Goldman Sachs currently has a consensus rating of “Hold” and a consensus target price of $266.78.
Shares of Goldman Sachs opened at $237.00 on Monday, Marketbeat Ratings reports. The company has a market cap of $89.52 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.82 and a beta of 1.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.12. Goldman Sachs has a 12-month low of $209.62 and a 12-month high of $275.31.
Goldman Sachs (NYSE:GS) last posted its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 EPS for the quarter, topping the Zacks’ consensus estimate of $5.58 by $1.37. Goldman Sachs had a return on equity of 12.58% and a net margin of 14.27%. The company had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period in the previous year, the firm earned $5.15 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. sell-side analysts expect that Goldman Sachs will post 23.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Thursday, May 31st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This is a boost from Goldman Sachs’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.35%. Goldman Sachs’s payout ratio is currently 15.18%.
Goldman Sachs 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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