Hancock Whitney Corp reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,663 shares of the investment management company’s stock after selling 556 shares during the period. Hancock Whitney Corp’s holdings in Goldman Sachs Group were worth $1,992,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GS. Cerebellum GP LLC acquired a new position in Goldman Sachs Group during the third quarter worth $122,000. NuWave Investment Management LLC raised its holdings in Goldman Sachs Group by 370.9% during the third quarter. NuWave Investment Management LLC now owns 259 shares of the investment management company’s stock worth $53,000 after purchasing an additional 204 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Goldman Sachs Group by 3.0% during the third quarter. CIBC Private Wealth Group LLC now owns 13,333 shares of the investment management company’s stock worth $2,762,000 after purchasing an additional 393 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Goldman Sachs Group by 13.5% during the third quarter. Meeder Asset Management Inc. now owns 1,161 shares of the investment management company’s stock worth $241,000 after purchasing an additional 138 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in Goldman Sachs Group by 23.2% during the third quarter. Asset Dedication LLC now owns 4,933 shares of the investment management company’s stock worth $1,014,000 after purchasing an additional 929 shares during the last quarter. Institutional investors own 69.50% of the company’s stock.
Several equities analysts recently issued reports on GS shares. BMO Capital Markets reduced their price objective on Goldman Sachs Group from $278.00 to $264.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada set a $220.00 price objective on Goldman Sachs Group and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Wells Fargo & Co reaffirmed an “overweight” rating and set a $280.00 price objective (up from $240.00) on shares of Goldman Sachs Group in a report on Tuesday, December 17th. Buckingham Research raised Goldman Sachs Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $219.00 to $290.00 in a report on Thursday, January 9th. Finally, Zacks Investment Research raised Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $235.00 price objective for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Goldman Sachs Group currently has an average rating of “Buy” and a consensus target price of $266.41.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.20 by ($0.51). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $8.56 billion. Goldman Sachs Group had a return on equity of 10.27% and a net margin of 15.70%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $6.04 EPS. On average, analysts forecast that Goldman Sachs Group Inc will post 24.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, February 28th. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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