Pillar Pacific Capital Management LLC raised its stake in shares of Goldman Sachs Group Inc. (NYSE:GS) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 29,941 shares of the investment management company’s stock after buying an additional 25 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Goldman Sachs Group were worth $4,829,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in GS. AMG National Trust Bank boosted its position in Goldman Sachs Group by 20.4% in the third quarter. AMG National Trust Bank now owns 12,196 shares of the investment management company’s stock valued at $1,967,000 after buying an additional 2,066 shares during the period. Quadrant Capital Management LLC boosted its position in Goldman Sachs Group by 0.4% in the third quarter. Quadrant Capital Management LLC now owns 13,505 shares of the investment management company’s stock valued at $2,178,000 after buying an additional 50 shares during the period. Crestwood Advisors LLC boosted its position in Goldman Sachs Group by 0.3% in the third quarter. Crestwood Advisors LLC now owns 59,944 shares of the investment management company’s stock valued at $9,667,000 after buying an additional 162 shares during the period. Toronto Dominion Bank boosted its position in Goldman Sachs Group by 260.7% in the third quarter. Toronto Dominion Bank now owns 12,431 shares of the investment management company’s stock valued at $2,005,000 after buying an additional 8,985 shares during the period. Finally, Spinnaker Trust purchased a new position in Goldman Sachs Group during the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 69.61% of the company’s stock.
Shares of Goldman Sachs Group Inc. (NYSE:GS) traded up 0.13% during mid-day trading on Monday, reaching $211.65. The company had a trading volume of 1,710,734 shares. The firm has a market capitalization of $88.64 billion, a price-to-earnings ratio of 16.98 and a beta of 1.55. Goldman Sachs Group Inc. has a one year low of $138.20 and a one year high of $213.41. The stock has a 50 day moving average of $185.81 and a 200-day moving average of $165.88.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.09. The company earned $8.17 billion during the quarter, compared to the consensus estimate of $7.41 billion. Goldman Sachs Group had a net margin of 19.58% and a return on equity of 9.73%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.51 earnings per share. Equities analysts predict that Goldman Sachs Group Inc. will post $15.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.60 annualized dividend and a dividend yield of 1.23%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 20.72%.
Several equities analysts have commented on GS shares. Vetr raised Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $154.43 price target for the company in a report on Monday, August 1st. Oppenheimer Holdings Inc. set a $222.00 price target on Goldman Sachs Group and gave the company a “buy” rating in a report on Wednesday, August 3rd. TheStreet raised Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. set a $176.00 target price on Goldman Sachs Group and gave the stock a “buy” rating in a report on Thursday, September 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $182.28.
In other news, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the transaction, the insider now directly owns 13,075 shares in the company, valued at $2,222,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan M. Cohen sold 5,000 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $181.19, for a total transaction of $905,950.00. Following the transaction, the executive vice president now owns 61,444 shares of the company’s stock, valued at $11,133,038.36. The disclosure for this sale can be found here. Insiders own 2.61% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.