Hartline Investment Corp Cuts Stake in Goldman Sachs Group, Inc. (The) (NYSE:GS)

Hartline Investment Corp lowered its stake in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,020 shares of the investment management company’s stock after selling 428 shares during the period. Goldman Sachs Group, Inc. (The) comprises about 1.6% of Hartline Investment Corp’s holdings, making the stock its 11th largest position. Hartline Investment Corp’s holdings in Goldman Sachs Group, Inc. (The) were worth $5,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GS. YHB Investment Advisors Inc. boosted its position in shares of Goldman Sachs Group, Inc. (The) by 0.8% in the first quarter. YHB Investment Advisors Inc. now owns 13,894 shares of the investment management company’s stock valued at $3,109,000 after buying an additional 110 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter valued at $2,783,000. Meiji Yasuda Life Insurance Co boosted its position in shares of Goldman Sachs Group, Inc. (The) by 4.2% in the first quarter. Meiji Yasuda Life Insurance Co now owns 10,009 shares of the investment management company’s stock valued at $2,299,000 after buying an additional 400 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter valued at $4,698,000. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of Goldman Sachs Group, Inc. (The) by 55.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 238,554 shares of the investment management company’s stock valued at $54,801,000 after buying an additional 85,392 shares during the last quarter. 73.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Goldman Sachs Group, Inc. (NYSE:GS) traded down 0.37% during trading on Tuesday, reaching $232.05. The company had a trading volume of 3,322,068 shares. Goldman Sachs Group, Inc. has a 52-week low of $157.77 and a 52-week high of $255.15. The company has a market capitalization of $93.49 billion, a P/E ratio of 12.17 and a beta of 1.42. The firm has a 50-day moving average price of $224.19 and a 200-day moving average price of $229.87.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 18th. The investment management company reported $3.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a return on equity of 11.25% and a net margin of 26.44%. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the previous year, the business earned $3.72 EPS. Goldman Sachs Group, Inc. (The)’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Goldman Sachs Group, Inc. will post $18.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.29%. Goldman Sachs Group, Inc. (The)’s payout ratio is 15.74%.

Goldman Sachs Group, Inc. (The) declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 18th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the investment management company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Goldman Sachs Group, Inc. (The) from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. UBS AG lowered shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $220.19 to $230.00 in a report on Monday, July 24th. Berenberg Bank restated a “sell” rating and issued a $190.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a report on Friday, July 21st. Oppenheimer Holdings, Inc. boosted their price objective on shares of Goldman Sachs Group, Inc. (The) from $251.00 to $256.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods lowered shares of Goldman Sachs Group, Inc. (The) from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $260.00 to $240.00 in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Goldman Sachs Group, Inc. (The) currently has a consensus rating of “Hold” and a consensus price target of $235.25.

In other news, Director David A. Viniar sold 4,590 shares of Goldman Sachs Group, Inc. (The) stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $227.79, for a total value of $1,045,556.10. Following the completion of the transaction, the director now owns 854,925 shares in the company, valued at approximately $194,743,365.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.57% of the stock is currently owned by company insiders.

Goldman Sachs Group, Inc. (The) Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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

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