Goldman Sachs Group Inc (GS) Shares Bought by Commonwealth Equity Services LLC
Commonwealth Equity Services LLC grew its holdings in Goldman Sachs Group Inc (NYSE:GS) by 0.8% during the 3rd quarter, Holdings Channel reports. The firm owned 44,436 shares of the investment management company’s stock after acquiring an additional 374 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Goldman Sachs Group were worth $9,964,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Palo Capital Inc. acquired a new stake in shares of Goldman Sachs Group in the third quarter valued at about $109,000. Zions Bancorporation acquired a new stake in shares of Goldman Sachs Group in the second quarter valued at about $109,000. First Mercantile Trust Co. acquired a new stake in shares of Goldman Sachs Group in the second quarter valued at about $110,000. Asset Advisors Investment Management LLC acquired a new stake in shares of Goldman Sachs Group in the third quarter valued at about $115,000. Finally, Investment Partners LTD. acquired a new stake in shares of Goldman Sachs Group in the third quarter valued at about $224,000. 72.51% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on GS shares. JPMorgan Chase & Co. reissued a “buy” rating and set a $285.00 target price on shares of Goldman Sachs Group in a research report on Monday, September 10th. Zacks Investment Research downgraded Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine downgraded Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research report on Thursday. Wolfe Research started coverage on Goldman Sachs Group in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Goldman Sachs Group in a research report on Thursday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus target price of $281.21.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, topping analysts’ consensus estimates of $5.38 by $0.90. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.02 earnings per share. On average, sell-side analysts predict that Goldman Sachs Group Inc will post 25.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, November 29th. Goldman Sachs Group’s dividend payout ratio is 16.19%.
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Goldman Sachs Group Profile
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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