Ameriprise Financial Inc. Raises Stock Holdings in The Goldman Sachs Group, Inc. $GS

Ameriprise Financial Inc. boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 18.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,895,752 shares of the investment management company’s stock after purchasing an additional 291,280 shares during the quarter. Ameriprise Financial Inc. owned about 0.63% of The Goldman Sachs Group worth $1,345,924,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its position in shares of The Goldman Sachs Group by 617,504.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 3.6% in 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 purchasing an additional 227,604 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of The Goldman Sachs Group by 4.9% during 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 purchasing an additional 157,473 shares during the period. Northern Trust Corp lifted its stake in shares of The Goldman Sachs Group by 1.2% during 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 buying an additional 40,125 shares in the last quarter. Finally, Norges Bank bought a new position in The Goldman Sachs Group in the 2nd quarter worth $2,138,031,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 2.5%

NYSE:GS opened at $887.90 on Friday. The company has a market capitalization of $266.31 billion, a P/E ratio of 18.04, a PEG ratio of 1.20 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $919.10. The firm has a fifty day simple moving average of $800.00 and a 200-day simple moving average of $743.23.

The Goldman Sachs Group (NYSE:GS) last issued 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 15.29%. The firm had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company posted $8.40 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 1.8%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GS shares. Barclays lifted their target price on 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. Wells Fargo & Company upped 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 note on Tuesday, September 16th. HSBC lifted their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Citigroup lifted their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $787.06.

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.