Cortland Advisers LLC Has $29.05 Million Position in Goldman Sachs Group Inc (GS)

Cortland Advisers LLC reduced its holdings in Goldman Sachs Group Inc (NYSE:GS) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 129,563 shares of the investment management company’s stock after selling 10,189 shares during the quarter. Goldman Sachs Group accounts for approximately 1.5% of Cortland Advisers LLC’s portfolio, making the stock its 24th largest position. Cortland Advisers LLC’s holdings in Goldman Sachs Group were worth $29,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GS. Moneta Group Investment Advisors LLC lifted its holdings in Goldman Sachs Group by 7,719.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after buying an additional 23,157 shares during the period. Zions Bancorporation acquired a new position in Goldman Sachs Group in the second quarter valued at approximately $109,000. Palo Capital Inc. acquired a new position in Goldman Sachs Group in the third quarter valued at approximately $109,000. Asset Advisors Investment Management LLC acquired a new position in Goldman Sachs Group in the third quarter valued at approximately $115,000. Finally, Canton Hathaway LLC acquired a new position in Goldman Sachs Group in the third quarter valued at approximately $174,000. Institutional investors and hedge funds own 70.94% of the company’s stock.

GS opened at $191.63 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.04. The firm has a market capitalization of $70.93 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.62 and a beta of 1.11. Goldman Sachs Group Inc has a twelve month low of $188.12 and a twelve month high of $275.31.

Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.38 by $0.90. The company had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $5.02 earnings per share. Research analysts predict that Goldman Sachs Group Inc will post 25.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be issued a $0.80 dividend. The ex-dividend date is Thursday, November 29th. This represents a $3.20 annualized dividend and a yield of 1.67%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 16.19%.

Several brokerages recently weighed in on GS. Bank of America cut their price objective on shares of Goldman Sachs Group to $280.00 in a report on Sunday. Zacks Investment Research lowered shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley lowered shares of Goldman Sachs Group from an “overweight” rating to an “equal weight” rating and set a $226.00 price objective on the stock. in a report on Wednesday, November 21st. ValuEngine lowered shares of Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a report on Thursday, November 15th. Finally, BMO Capital Markets increased their price objective on shares of Goldman Sachs Group from $261.00 to $276.00 and gave the company a “market perform” rating in a report on Wednesday, October 17th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $273.27.

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About Goldman Sachs Group

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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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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