Employees Retirement System of Texas decreased its stake in Goldman Sachs Group Inc (NYSE:GS) by 39.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,800 shares of the investment management company’s stock after selling 11,000 shares during the period. Employees Retirement System of Texas’ holdings in Goldman Sachs Group were worth $4,231,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of GS. Icon Wealth Partners LLC purchased a new stake in shares of Goldman Sachs Group in the 4th quarter worth about $113,000. Prime Capital Investment Advisors LLC bought a new position in shares of Goldman Sachs Group in the 4th quarter worth about $127,000. We Are One Seven LLC bought a new position in shares of Goldman Sachs Group in the 4th quarter worth about $137,000. Crewe Advisors LLC increased its stake in Goldman Sachs Group by 65.5% during the 1st quarter. Crewe Advisors LLC now owns 581 shares of the investment management company’s stock valued at $146,000 after purchasing an additional 230 shares in the last quarter. Finally, Bedel Financial Consulting Inc. bought a new stake in Goldman Sachs Group during the 1st quarter valued at about $161,000. 72.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GS opened at $233.39 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $88.18 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 0.80 and a beta of 1.33. Goldman Sachs Group Inc has a 52-week low of $214.64 and a 52-week high of $275.31.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.58 by $1.37. The firm had revenue of $10.04 billion during the quarter, compared to the consensus estimate of $8.73 billion. Goldman Sachs Group had a return on equity of 12.58% and a net margin of 14.27%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the company earned $5.15 EPS. sell-side analysts forecast that Goldman Sachs Group Inc will post 23.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, May 31st will be given a $0.80 dividend. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.37%. The ex-dividend date is Wednesday, May 30th. Goldman Sachs Group’s payout ratio is currently 16.19%.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $245.00 price target (up from $221.00) on shares of Goldman Sachs Group in a research note on Wednesday, April 18th. Buckingham Research raised their price objective on shares of Goldman Sachs Group from $285.00 to $292.00 and gave the stock a “neutral” rating in a report on Tuesday, April 17th. ValuEngine downgraded shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Saturday, April 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Goldman Sachs Group in a report on Monday, April 9th. They set an “outperform” rating and a $300.00 price target on the stock. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $266.78.
In other Goldman Sachs Group news, insider David M. Solomon sold 3,497 shares of Goldman Sachs Group stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $244.40, for a total value of $854,666.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.57% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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