Global Retirement Partners LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Global Retirement Partners LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,079 shares of the investment management company’s stock, valued at approximately $5,718,000.

A number of other institutional investors have also recently modified their holdings of GS. Canada Pension Plan Investment Board grew its holdings in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after purchasing an additional 116,535 shares during the last quarter. Ignite Planners LLC purchased a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $239,000. Bank of New York Mellon Corp grew its stake in The Goldman Sachs Group by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after acquiring an additional 157,473 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after acquiring an additional 652 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in The Goldman Sachs Group during the first quarter worth about $9,596,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on GS shares. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Morgan Stanley lowered their target price on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. HSBC upped their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $786.00.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $790.75 on Tuesday. The business’s 50-day moving average price is $786.08 and its 200 day moving average price is $721.09. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $841.28. The company has a market capitalization of $237.17 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter in the previous year, the business earned $8.40 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is 32.50%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. This trade represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.