Circle Wealth Management LLC increased its holdings in Goldman Sachs Group Inc (NYSE:GS) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,772 shares of the investment management company’s stock after buying an additional 795 shares during the quarter. Goldman Sachs Group comprises 4.0% of Circle Wealth Management LLC’s portfolio, making the stock its 4th largest holding. Circle Wealth Management LLC’s holdings in Goldman Sachs Group were worth $11,860,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zions Bancorporation bought a new position in Goldman Sachs Group during the 2nd quarter valued at $109,000. First Mercantile Trust Co. bought a new position in Goldman Sachs Group during the 2nd quarter valued at $110,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Goldman Sachs Group during the 1st quarter valued at $151,000. Squar Milner Financial Services LLC bought a new position in Goldman Sachs Group during the 2nd quarter valued at $157,000. Finally, Flagship Harbor Advisors LLC bought a new position in Goldman Sachs Group during the 2nd quarter valued at $176,000. 71.04% of the stock is owned by institutional investors and hedge funds.
GS has been the subject of a number of research reports. Oppenheimer increased their price target on Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Tuesday, June 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $280.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, July 17th. ValuEngine lowered Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Finally, Keefe, Bruyette & Woods decreased their price target on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a research note on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $273.69.
In other news, insider David M. Solomon sold 8,382 shares of the stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total value of $1,945,294.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David M. Solomon sold 8,488 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total value of $2,019,464.96. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by corporate insiders.
Shares of NYSE:GS opened at $230.21 on Wednesday. Goldman Sachs Group Inc has a one year low of $218.89 and a one year high of $275.31. The firm has a market cap of $88.31 billion, a PE ratio of 11.65, a P/E/G ratio of 0.74 and a beta of 1.28. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.90 and a quick ratio of 0.90.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.32. Goldman Sachs Group had a return on equity of 13.58% and a net margin of 15.72%. The company had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter in the prior year, the firm earned $3.95 EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. equities research analysts expect that Goldman Sachs Group Inc will post 24.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, August 30th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, August 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.39%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 16.19%.
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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