Mackenzie Financial Corp Decreases Position in The Goldman Sachs Group, Inc. $GS

Mackenzie Financial Corp lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 15.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 201,681 shares of the investment management company’s stock after selling 37,592 shares during the period. Mackenzie Financial Corp’s holdings in The Goldman Sachs Group were worth $142,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Advisors boosted its position in shares of The Goldman Sachs Group by 0.6% in the 2nd quarter. Colonial Trust Advisors now owns 27,232 shares of the investment management company’s stock worth $19,274,000 after buying an additional 174 shares in the last quarter. Norges Bank acquired a new position in The Goldman Sachs Group during the second quarter worth about $2,138,031,000. Laidlaw Wealth Management LLC raised its position in The Goldman Sachs Group by 8.7% during the second quarter. Laidlaw Wealth Management LLC now owns 473 shares of the investment management company’s stock worth $335,000 after acquiring an additional 38 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of The Goldman Sachs Group by 8.6% in the second quarter. Scotia Capital Inc. now owns 66,280 shares of the investment management company’s stock valued at $46,909,000 after purchasing an additional 5,250 shares in the last quarter. Finally, Level Four Advisory Services LLC grew its position in shares of The Goldman Sachs Group by 0.9% in the second quarter. Level Four Advisory Services LLC now owns 16,406 shares of the investment management company’s stock valued at $11,612,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

GS stock opened at $826.51 on Friday. The stock has a market capitalization of $247.89 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $841.28. The stock’s fifty day simple moving average is $787.51 and its 200-day simple moving average is $726.53.

The Goldman Sachs Group (NYSE:GS) last released its 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 firm had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the firm posted $8.40 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GS. HSBC lifted their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Barclays upped their price objective on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Citigroup increased 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. Finally, UBS Group lifted their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $786.00.

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.