Cohen Klingenstein LLC Continues to Hold Position in Goldman Sachs Group, Inc. (The) (NYSE:GS)

Cohen Klingenstein LLC maintained its position in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,350 shares of the investment management company’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Goldman Sachs Group, Inc. (The) were worth $1,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in Goldman Sachs Group, Inc. (The) by 3,301.2% in the first quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock worth $5,644,114,000 after buying an additional 23,847,154 shares during the period. Dodge & Cox purchased a new stake in Goldman Sachs Group, Inc. (The) during the fourth quarter worth $3,399,521,000. New England Asset Management Inc. raised its position in shares of Goldman Sachs Group, Inc. (The) by 440.8% in the first quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company’s stock worth $535,492,000 after buying an additional 1,900,000 shares during the period. Norges Bank bought a new position in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth approximately $389,380,000. Finally, Alliancebernstein L.P. raised its position in shares of Goldman Sachs Group, Inc. (The) by 84.4% in the first quarter. Alliancebernstein L.P. now owns 3,221,215 shares of the investment management company’s stock worth $739,978,000 after buying an additional 1,474,433 shares during the period. 73.72% of the stock is owned by hedge funds and other institutional investors.

Shares of Goldman Sachs Group, Inc. (GS) opened at 224.15 on Friday. The stock’s 50 day moving average is $225.05 and its 200-day moving average is $229.72. The stock has a market cap of $87.02 billion, a PE ratio of 11.75 and a beta of 1.42. Goldman Sachs Group, Inc. has a 1-year low of $157.77 and a 1-year high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 18th. The investment management company reported $3.95 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.56. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.27% and a net margin of 26.44%. Goldman Sachs Group, Inc. (The)’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.72 earnings per share. On average, analysts predict that Goldman Sachs Group, Inc. will post $18.20 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.34%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio (DPR) is currently 15.74%.

Goldman Sachs Group, Inc. (The) declared that its board has initiated a stock repurchase plan on Tuesday, April 18th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the investment management company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of equities analysts have recently commented on the stock. Atlantic Securities raised shares of Goldman Sachs Group, Inc. (The) from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $214.00 to $254.00 in a research report on Thursday, April 20th. Royal Bank Of Canada reduced their target price on shares of Goldman Sachs Group, Inc. (The) from $250.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 19th. UBS AG reissued a “buy” rating and set a $285.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a report on Wednesday, April 19th. Keefe, Bruyette & Woods set a $260.00 price objective on shares of Goldman Sachs Group, Inc. (The) and gave the company a “buy” rating in a report on Saturday, May 6th. Finally, HSBC Holdings plc lowered shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and lifted their price objective for the company from $223.80 to $250.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $235.44.

In other Goldman Sachs Group, Inc. (The) news, Director David A. Viniar sold 4,590 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $227.79, for a total transaction of $1,045,556.10. Following the completion of the transaction, the director now directly owns 854,925 shares in the company, valued at $194,743,365.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Solomon sold 3,260 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $231.59, for a total value of $754,983.40. Following the completion of the sale, the insider now owns 177,594 shares of the company’s stock, valued at $41,128,994.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,535 shares of company stock valued at $5,956,868. 2.57% of the stock is owned by company insiders.

Goldman Sachs Group, Inc. (The) Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Institutional Ownership by Quarter for Goldman Sachs Group, Inc. (The) (NYSE:GS)

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