Tradition Capital Management LLC increased its holdings in Goldman Sachs Group Inc (NYSE:GS) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,805 shares of the investment management company’s stock after purchasing an additional 1,840 shares during the period. Tradition Capital Management LLC’s holdings in Goldman Sachs Group were worth $2,650,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GS. Raymond James & Associates increased its position in Goldman Sachs Group by 6.4% during the first quarter. Raymond James & Associates now owns 206,288 shares of the investment management company’s stock valued at $39,606,000 after acquiring an additional 12,339 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Goldman Sachs Group by 37.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 60,148 shares of the investment management company’s stock valued at $11,548,000 after buying an additional 16,525 shares in the last quarter. Garrison Asset Management LLC lifted its holdings in Goldman Sachs Group by 8.3% in the 1st quarter. Garrison Asset Management LLC now owns 7,556 shares of the investment management company’s stock valued at $1,451,000 after purchasing an additional 578 shares in the last quarter. Cypress Capital Management LLC purchased a new position in Goldman Sachs Group in the 1st quarter valued at $211,000. Finally, Heritage Wealth Advisors lifted its holdings in Goldman Sachs Group by 209.6% in the 1st quarter. Heritage Wealth Advisors now owns 517 shares of the investment management company’s stock valued at $99,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.
Goldman Sachs Group stock traded down $0.96 during mid-day trading on Wednesday, hitting $195.32. 743,726 shares of the company’s stock traded hands, compared to its average volume of 2,434,934. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $71.33 billion, a P/E ratio of 7.73, a PEG ratio of 1.25 and a beta of 1.24. Goldman Sachs Group Inc has a one year low of $151.70 and a one year high of $245.08.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.97. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $8.89 billion. Goldman Sachs Group had a return on equity of 12.79% and a net margin of 25.13%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.95 EPS. On average, research analysts expect that Goldman Sachs Group Inc will post 23.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 29th. This represents a $3.40 annualized dividend and a yield of 1.74%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s payout ratio is presently 12.66%.
GS has been the subject of several research reports. Societe Generale downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Morgan Stanley lowered Goldman Sachs Group to a “sell” rating in a research note on Monday, February 4th. ValuEngine upgraded Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Oppenheimer raised their price objective on Goldman Sachs Group from $302.00 to $312.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, BMO Capital Markets restated a “hold” rating on shares of Goldman Sachs Group in a research note on Monday, January 21st. Two investment analysts have rated the stock with a sell rating, nine 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 price target of $239.91.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 1,489 shares of Goldman Sachs Group 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 filing with the SEC, which is available at this hyperlink. 1.41% of the stock is owned by insiders.
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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.
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