VestGen Advisors LLC Raises Position in The Goldman Sachs Group, Inc. $GS

VestGen Advisors LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 51.2% in the second quarter, Holdings Channel.com reports. The firm owned 5,677 shares of the investment management company’s stock after buying an additional 1,923 shares during the period. VestGen Advisors LLC’s holdings in The Goldman Sachs Group were worth $4,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its position in 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 during the last quarter. Norges Bank bought a new position in The Goldman Sachs Group during the 2nd quarter valued at about $2,138,031,000. Nuveen LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter worth about $897,185,000. Ninety One UK Ltd bought a new stake in The Goldman Sachs Group in the second quarter worth about $408,780,000. Finally, AGF Management Ltd. boosted its position in shares of The Goldman Sachs Group by 2,429.6% during the second quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock valued at $343,524,000 after buying an additional 466,187 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GS shares. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a report on Friday, October 17th. Wells Fargo & Company boosted their target price 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. BNP Paribas Exane upped their price target on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a report on Wednesday, October 15th. 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 investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $786.00.

The Goldman Sachs Group Stock Up 1.3%

NYSE:GS opened at $826.51 on Monday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $841.28. The company has a 50-day moving average of $787.51 and a 200 day moving average of $727.33. The firm has a market cap of $247.89 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the previous year, the business posted $8.40 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

The Goldman Sachs Group 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.