CIBC Private Wealth Group LLC Increases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

CIBC Private Wealth Group LLC lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 52.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 561,993 shares of the investment management company’s stock after acquiring an additional 193,968 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $183,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. RMR Wealth Builders purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. IronBridge Private Wealth LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Cordasco Financial Network purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $33,000. Tortoise Investment Management LLC lifted its stake in The Goldman Sachs Group by 100.0% in the first quarter. Tortoise Investment Management LLC now owns 100 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $33,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.

Several equities research analysts have issued reports on GS shares. JMP Securities increased their target price on The Goldman Sachs Group from $338.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, April 9th. DA Davidson upped their price target on shares of The Goldman Sachs Group from $347.00 to $378.00 and gave the stock a “neutral” rating in a report on Thursday, April 15th. Piper Sandler upped their price target on shares of The Goldman Sachs Group from $385.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, June 1st. They noted that the move was a valuation call. Citigroup upped their price target on shares of The Goldman Sachs Group from $390.00 to $410.00 in a report on Friday, April 23rd. Finally, Jefferies Financial Group initiated coverage on shares of The Goldman Sachs Group in a report on Wednesday. They issued a “buy” rating and a $450.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. The Goldman Sachs Group has a consensus rating of “Buy” and a consensus price target of $371.23.

Shares of GS traded up $1.98 during trading hours on Friday, reaching $375.92. 46,420 shares of the stock traded hands, compared to its average volume of 3,095,316. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.81 and a current ratio of 0.81. The Goldman Sachs Group, Inc. has a 52-week low of $185.52 and a 52-week high of $393.26. The company’s 50-day simple moving average is $355.54. The company has a market capitalization of $127.72 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.35 and a beta of 1.49.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, April 13th. The investment management company reported $18.60 earnings per share for the quarter, beating analysts’ consensus estimates of $10.22 by $8.38. The Goldman Sachs Group had a net margin of 28.40% and a return on equity of 20.64%. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter in the previous year, the company earned $3.11 EPS. The Goldman Sachs Group’s revenue for the quarter was up 102.4% on a year-over-year basis. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 43.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Tuesday, June 1st will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, May 28th. The Goldman Sachs Group’s payout ratio is currently 14.60%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services.

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

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