Goldman Sachs Group Inc. (GS) Chairman Lloyd C. Blankfein Sells 2,504 Shares
Goldman Sachs Group Inc. (NYSE:GS) Chairman Lloyd C. Blankfein sold 2,504 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $211.32, for a total transaction of $529,145.28. Following the transaction, the chairman now directly owns 1,524,471 shares in the company, valued at $322,151,211.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Goldman Sachs Group Inc. (NYSE:GS) traded up 0.26% during trading on Wednesday, reaching $211.66. 796,465 shares of the company’s stock traded hands. Goldman Sachs Group Inc. has a 12 month low of $138.20 and a 12 month high of $212.07. The stock has a market capitalization of $88.64 billion, a P/E ratio of 16.99 and a beta of 1.55. The company has a 50-day moving average of $182.65 and a 200 day moving average of $165.16.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The firm earned $8.17 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the firm earned $4.51 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities research analysts expect that Goldman Sachs Group Inc. will post $15.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.60 annualized dividend and a yield of 1.23%. Goldman Sachs Group’s payout ratio is 20.72%.
Several equities analysts recently issued reports on the stock. Oppenheimer Holdings Inc. lifted their price objective on shares of Goldman Sachs Group from $222.00 to $223.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Vetr upgraded shares of Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price objective for the company in a research note on Thursday, September 29th. BMO Capital Markets reiterated a “market perform” rating and set a $214.00 price objective (up from $200.00) on shares of Goldman Sachs Group in a research note on Friday, October 21st. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research note on Tuesday, September 20th. Finally, TheStreet upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $181.38.
Hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS raised its position in Goldman Sachs Group by 2.5% in the second quarter. DNB Asset Management AS now owns 33,293 shares of the investment management company’s stock valued at $4,947,000 after buying an additional 800 shares in the last quarter. Washington Trust Bank raised its position in Goldman Sachs Group by 9.0% in the second quarter. Washington Trust Bank now owns 14,718 shares of the investment management company’s stock valued at $2,187,000 after buying an additional 1,210 shares in the last quarter. CKW Financial Group raised its position in Goldman Sachs Group by 33.3% in the second quarter. CKW Financial Group now owns 800 shares of the investment management company’s stock valued at $119,000 after buying an additional 200 shares in the last quarter. Baxter Bros Inc. purchased a new position in Goldman Sachs Group during the second quarter valued at approximately $2,327,000. Finally, Cacti Asset Management LLC raised its position in Goldman Sachs Group by 1.0% in the second quarter. Cacti Asset Management LLC now owns 177,281 shares of the investment management company’s stock valued at $26,340,000 after buying an additional 1,723 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Goldman Sachs Group Company Profile
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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