Gateway Investment Advisers LLC Buys 777 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)



Gateway Investment Advisers LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 11.8% during the first quarter, Holdings Channel reports. The firm owned 7,375 shares of the investment management company’s stock after purchasing an additional 777 shares during the period. Gateway Investment Advisers LLC’s holdings in The Goldman Sachs Group were worth $2,435,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Gilman Hill Asset Management LLC lifted its holdings in The Goldman Sachs Group by 44.1% during the first quarter. Gilman Hill Asset Management LLC now owns 981 shares of the investment management company’s stock worth $324,000 after acquiring an additional 300 shares during the period. Walker Asset Management LLC bought a new stake in The Goldman Sachs Group during the first quarter worth $219,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in The Goldman Sachs Group by 204.0% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 608 shares of the investment management company’s stock worth $201,000 after acquiring an additional 408 shares during the period. Bard Financial Services Inc. lifted its holdings in The Goldman Sachs Group by 15.1% during the first quarter. Bard Financial Services Inc. Now owns 4,950 shares of the investment management company’s stock worth $1,634,000 shares after acquiring an additional 650 during the period. Finally, Trinity Legacy Partners LLC lifted its holdings in The Goldman Sachs Group by 114.2% during the first quarter. Trinity Legacy Partners LLC now owns 15,362 shares of the investment management company’s stock worth $5,071,000 after acquiring an additional 8,190 shares during the period. Institutional investors and hedge funds own 71.42% of the company’s stock.

A number of brokerages recently commented on GS. Wells Fargo & Company lowered The Goldman Sachs Group from an “overweight” rating to an “equal weight” rating in a report on Monday, February 28th. Oppenheimer dropped their price target on The Goldman Sachs Group from $546.00 to $519.00 and set an “overweight” rating on the stock in a report on Tuesday, May 3rd. Bank of America raised their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, April 18th. JPMorgan Chase & Co. set a $416.00 target price on The Goldman Sachs Group in a research report on Friday, April 1st. Finally, BMO Capital Markets decreased their target price on The Goldman Sachs Group from $488.00 to $486.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $40.73.

In related news, Director Goldman Sachs Group Inc sold 13,818 shares of The Goldman Sachs Group stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $19.18, for a total transaction of $265,029.24. Following the completion of the sale, the director now owns 2,910,205 shares of the company’s stock, valued at $55,817,731.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Solomon sold 9,768 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $334.57, for a total value of $3,268,079.76. Following the sale, the chief executive officer now directly owns 96,467 shares of the company’s stock, valued at approximately $32,274,964.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,330,390 shares of company stock valued at $28,952,332. 0.57% of the stock is owned by company insiders.

Shares of NYSE GS opened at $302.75 on Friday. The stock has a market cap of $103.98 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.59 and a beta of 1.40. The Goldman Sachs Group, Inc. has a fifty-two week low of $278.15 and a fifty-two week high of $426.16. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $309.85 and a 200-day moving average of $339.63.

The Goldman Sachs Group (NYSE:GS – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The investment management company reported $10.76 earnings per share for the quarter, beating the consensus estimate of $8.61 by $2.15. The company had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $11.76 billion. The Goldman Sachs Group had a return on equity of 19.08% and a net margin of 31.21%. The firm’s quarterly revenue was down 26.9% compared to the same quarter last year. During the same period in the previous year, the business earned $18.60 earnings per share. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.7 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 1st will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, May 31st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 15.53%.

The Goldman Sachs Group Company Profile (Get Rating)

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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)



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