Cerity Partners LLC Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Cerity Partners LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 175,609 shares of the investment management company’s stock after selling 1,905 shares during the period. Cerity Partners LLC owned approximately 0.06% of The Goldman Sachs Group worth $124,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in shares of The Goldman Sachs Group by 617,504.5% during the 2nd 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 purchasing an additional 29,053,586 shares during the last quarter. Fisher Asset Management LLC boosted its stake in The Goldman Sachs Group by 3.6% during the second quarter. Fisher Asset Management LLC now owns 6,539,746 shares of the investment management company’s stock worth $4,628,507,000 after buying an additional 227,604 shares during the period. Bank of New York Mellon Corp increased its position in shares of The Goldman Sachs Group by 4.9% during the second 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. Northern Trust Corp raised its stake in shares of The Goldman Sachs Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock valued at $1,820,677,000 after acquiring an additional 40,125 shares during the period. Finally, Norges Bank acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $2,138,031,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GS. HSBC lifted their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Citigroup lifted their price objective on The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reiterated a “neutral” rating and issued a $843.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. BMO Capital Markets started coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a “market perform” rating and a $785.00 target price for the company. Finally, UBS Group boosted their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $786.00.

The Goldman Sachs Group Trading Up 1.9%

GS opened at $854.06 on Friday. The business has a fifty day moving average price of $790.53 and a 200 day moving average price of $734.14. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.65 and a quick ratio of 0.65. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $856.20. The stock has a market capitalization of $256.16 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.13 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The business had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the business posted $8.40 EPS. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is 32.50%.

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.