Gabelli Funds LLC Has $40.41 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Gabelli Funds LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,960 shares of the investment management company’s stock after selling 4,550 shares during the period. Gabelli Funds LLC’s holdings in The Goldman Sachs Group were worth $40,414,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Turim 21 Investimentos Ltda. acquired a new position in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. BOK Financial Private Wealth Inc. raised its stake in The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 17 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at $26,000. Manning & Napier Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Finally, Steph & Co. acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth $27,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,036.86 on Tuesday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The Goldman Sachs Group, Inc. has a fifty-two week low of $721.16 and a fifty-two week high of $1,153.99. The stock’s 50-day moving average is $1,053.15 and its two-hundred day moving average is $965.21. The firm has a market cap of $301.90 billion, a P/E ratio of 16.00, a PEG ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the business earned $10.91 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a dividend of $5.00 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group’s payout ratio is 27.78%.

Wall Street Analyst Weigh In

GS has been the topic of a number of research analyst reports. Daiwa Securities Group lifted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Weiss Ratings raised The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Rothschild & Co Redburn raised their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Dbs Bank lifted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Finally, Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.86.

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The Goldman Sachs Group Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

See Also

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

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