Goldman Sachs Group Inc. (GS) Stake Decreased by ClariVest Asset Management LLC
ClariVest Asset Management LLC cut its stake in Goldman Sachs Group Inc. (NYSE:GS) by 33.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 98,129 shares of the investment management company’s stock after selling 49,054 shares during the period. ClariVest Asset Management LLC’s holdings in Goldman Sachs Group were worth $14,581,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Columbia Partners L L C Investment Management boosted its position in shares of Goldman Sachs Group by 22.1% in the first quarter. Columbia Partners L L C Investment Management now owns 7,227 shares of the investment management company’s stock valued at $1,134,000 after buying an additional 1,310 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Goldman Sachs Group by 95.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,100 shares of the investment management company’s stock valued at $642,000 after buying an additional 2,000 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Goldman Sachs Group during the first quarter valued at $3,151,000. Canandaigua National Bank & Trust Co. boosted its position in shares of Goldman Sachs Group by 3.9% in the first quarter. Canandaigua National Bank & Trust Co. now owns 5,418 shares of the investment management company’s stock valued at $851,000 after buying an additional 201 shares in the last quarter. Finally, Contrarius Investment Management Ltd raised its position in Goldman Sachs Group by 161.5% in the first quarter. Contrarius Investment Management Ltd now owns 57,164 shares of the investment management company’s stock worth $8,974,000 after buying an additional 35,302 shares during the period. 70.77% of the stock is owned by institutional investors and hedge funds.
Goldman Sachs Group Inc. (NYSE:GS) traded up 0.45% during trading on Thursday, hitting $167.15. The company had a trading volume of 2,857,999 shares. The company has a market capitalization of $71.27 billion, a price-to-earnings ratio of 15.85 and a beta of 1.61. The stock has a 50-day moving average of $166.26 and a 200 day moving average of $159.14. Goldman Sachs Group Inc. has a one year low of $138.20 and a one year high of $199.90.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.72. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same quarter in the prior year, the company earned $1.98 earnings per share. Equities analysts forecast that Goldman Sachs Group Inc. will post $14.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 1st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, August 30th. Goldman Sachs Group’s payout ratio is 24.60%.
A number of equities analysts recently weighed in on GS shares. Bank of America Corp. reiterated a “buy” rating and issued a $160.00 price target (down previously from $185.00) on shares of Goldman Sachs Group in a research report on Wednesday, June 29th. Citigroup Inc. reissued a “buy” rating on shares of Goldman Sachs Group in a research note on Wednesday, June 29th. JPMorgan Chase & Co. set a $163.00 price objective on Goldman Sachs Group and gave the stock a “buy” rating in a research note on Monday, June 27th. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Monday, June 27th. Finally, Vetr raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 price objective for the company in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $181.07.
In related news, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $452,880.00. Following the sale, the insider now owns 13,075 shares of the company’s stock, valued at $2,222,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $166.11, for a total value of $2,325,540.00. Following the sale, the executive vice president now directly owns 33,634 shares in the company, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is owned by insiders.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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