Raiffeisen Bank International AG Cuts Stock Position in The Goldman Sachs Group, Inc. $GS

Raiffeisen Bank International AG cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,550 shares of the investment management company’s stock after selling 82 shares during the quarter. Raiffeisen Bank International AG’s holdings in The Goldman Sachs Group were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC raised its position in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. Nuveen LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $897,185,000. Ninety One UK Ltd bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $408,780,000. AGF Management Ltd. lifted its stake in The Goldman Sachs Group by 2,429.6% in the second quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock valued at $343,524,000 after purchasing an additional 466,187 shares during the last quarter. Finally, Amundi grew its holdings in The Goldman Sachs Group by 13.6% during the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock valued at $967,193,000 after purchasing an additional 225,993 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GS shares. BMO Capital Markets began coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $750.00 price objective (up from $625.00) on shares of The Goldman Sachs Group in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Barclays upped their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $786.00.

The Goldman Sachs Group Price Performance

GS stock opened at $776.42 on Tuesday. The firm has a 50 day moving average of $785.78 and a 200-day moving average of $713.29. The firm has a market capitalization of $232.87 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $841.28. 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 earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the company posted $8.40 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid 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 2.1%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 32.50%.

Insider Buying and Selling

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

The Goldman Sachs Group Company Profile

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.