Welch Group LLC Has $449,000 Stake in Goldman Sachs Group Inc (GS)
Welch Group LLC lifted its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 53.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,339 shares of the investment management company’s stock after purchasing an additional 816 shares during the period. Welch Group LLC’s holdings in Goldman Sachs Group were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC raised its stake in shares of Goldman Sachs Group by 10.6% during the 4th quarter. Belpointe Asset Management LLC now owns 3,465 shares of the investment management company’s stock worth $579,000 after buying an additional 333 shares in the last quarter. Legal & General Group Plc increased its stake in Goldman Sachs Group by 6.8% in the 4th quarter. Legal & General Group Plc now owns 1,739,119 shares of the investment management company’s stock valued at $290,444,000 after purchasing an additional 110,588 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Goldman Sachs Group by 29.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 199,139 shares of the investment management company’s stock valued at $32,466,000 after purchasing an additional 45,206 shares in the last quarter. Morgan Stanley increased its stake in Goldman Sachs Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 3,257,484 shares of the investment management company’s stock valued at $730,458,000 after purchasing an additional 52,899 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. increased its stake in Goldman Sachs Group by 9.7% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 666 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 59 shares in the last quarter. 70.11% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on GS shares. Barclays reaffirmed an “equal weight” rating and issued a $247.00 price objective (down from $289.00) on shares of Goldman Sachs Group in a research note on Wednesday, January 2nd. Societe Generale downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. Morgan Stanley downgraded Goldman Sachs Group to a “sell” rating in a research note on Monday, February 4th. ValuEngine raised Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Goldman Sachs Group in a research note on Monday, January 21st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $250.08.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, January 16th. The investment management company reported $6.04 EPS for the quarter, beating analysts’ consensus estimates of $5.15 by $0.89. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.48 billion. Goldman Sachs Group had a return on equity of 13.84% and a net margin of 28.92%. Goldman Sachs Group’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.68 EPS. As a group, equities research analysts predict that Goldman Sachs Group Inc will post 23.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.70%. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s dividend payout ratio is 12.66%.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 1,489 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $198.31, for a total transaction of $295,283.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.41% of the stock is currently owned by corporate insiders.
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Goldman Sachs Group 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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