TD Asset Management Inc. trimmed its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 22.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,109 shares of the investment management company’s stock after selling 86,453 shares during the quarter. TD Asset Management Inc. owned 0.08% of Goldman Sachs Group worth $61,198,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. Geode Capital Management LLC lifted its holdings in shares of Goldman Sachs Group by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock worth $715,573,000 after purchasing an additional 411,700 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Goldman Sachs Group during the fourth quarter worth $301,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Goldman Sachs Group during the first quarter worth $496,000. First Manhattan Co. lifted its holdings in shares of Goldman Sachs Group by 2.4% during the first quarter. First Manhattan Co. now owns 4,577 shares of the investment management company’s stock worth $879,000 after purchasing an additional 108 shares during the period. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Goldman Sachs Group by 100.0% during the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after purchasing an additional 70 shares during the period. 69.54% of the stock is currently owned by institutional investors.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total value of $671,454.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.41% of the company’s stock.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a net margin of 22.09% and a return on equity of 12.43%. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the previous year, the firm posted $5.98 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that Goldman Sachs Group Inc will post 22.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $1.25 dividend. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. This represents a $5.00 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, August 29th. Goldman Sachs Group’s payout ratio is 13.45%.
Several equities analysts recently issued reports on GS shares. ValuEngine upgraded shares of Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 target price on the stock in a report on Tuesday, June 25th. Keefe, Bruyette & Woods upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $225.00 to $260.00 in a report on Friday, July 26th. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Tuesday, August 6th. Finally, Odeon Capital Group upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Goldman Sachs Group has an average rating of “Hold” and an average target price of $240.92.
Goldman Sachs Group 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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