Goldman Sachs Group Inc (GS) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System increased its stake in Goldman Sachs Group Inc (NYSE:GS) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,851 shares of the investment management company’s stock after purchasing an additional 2,715 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Goldman Sachs Group worth $106,502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GS. Doyle Wealth Management increased its holdings in Goldman Sachs Group by 1.5% during the 1st quarter. Doyle Wealth Management now owns 46,772 shares of the investment management company’s stock valued at $11,780,000 after acquiring an additional 694 shares in the last quarter. Norinchukin Bank The increased its holdings in Goldman Sachs Group by 37.7% during the 1st quarter. Norinchukin Bank The now owns 154,552 shares of the investment management company’s stock valued at $38,925,000 after acquiring an additional 42,320 shares in the last quarter. Afam Capital Inc. increased its holdings in Goldman Sachs Group by 1.7% during the 1st quarter. Afam Capital Inc. now owns 21,270 shares of the investment management company’s stock valued at $5,357,000 after acquiring an additional 352 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Goldman Sachs Group by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,385,940 shares of the investment management company’s stock valued at $349,063,000 after acquiring an additional 38,648 shares in the last quarter. Finally, Grand Jean Capital Management Inc. increased its holdings in Goldman Sachs Group by 9.5% during the 1st quarter. Grand Jean Capital Management Inc. now owns 37,143 shares of the investment management company’s stock valued at $9,355,000 after acquiring an additional 3,230 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

GS opened at $229.61 on Friday. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.92 and a current ratio of 0.90. Goldman Sachs Group Inc has a 1 year low of $214.64 and a 1 year high of $275.31. The company has a market capitalization of $88.27 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.74 and a beta of 1.31.

Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 17th. The investment management company reported $5.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.66 by $1.32. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The business had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $8.74 billion. During the same period last year, the company earned $3.95 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. equities research analysts anticipate that Goldman Sachs Group Inc will post 24.98 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, August 30th will be given a $0.80 dividend. The ex-dividend date is Wednesday, August 29th. This represents a $3.20 annualized dividend and a dividend yield of 1.39%. Goldman Sachs Group’s dividend payout ratio is presently 16.19%.

In related news, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total value of $2,019,464.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David M. Solomon sold 8,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total transaction of $1,945,294.56. The disclosure for this sale can be found here. Insiders sold 20,367 shares of company stock worth $4,819,426 over the last three months. Corporate insiders own 2.57% of the company’s stock.

Several research firms have issued reports on GS. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price target on the stock in a research note on Friday, July 20th. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Oppenheimer raised their price target on shares of Goldman Sachs Group from $304.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 18th. Keefe, Bruyette & Woods decreased their price target on shares of Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating on the stock in a research note on Wednesday, July 18th. Finally, Credit Suisse Group raised shares of Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $273.41.

Goldman Sachs Group Company 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.

Further Reading: Average Daily Trade Volume Explained

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

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