Rehmann Capital Advisory Group Acquires 369 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Rehmann Capital Advisory Group increased its holdings in The Goldman Sachs Group by 13.2%, acquiring an additional 369 shares, bringing their total to 3,171 shares valued at $2,244,000.
• The Goldman Sachs Group reported $12.25 EPS for the recent quarter, exceeding analyst expectations of $10.27, despite revenue falling short at $11.33 billion against estimates of $13.68 billion.
• The firm announced a quarterly dividend of $4.00, which will be paid on December 30th, reflecting an annualized dividend yield of 2.1%.

Rehmann Capital Advisory Group grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,171 shares of the investment management company's stock after purchasing an additional 369 shares during the period. Rehmann Capital Advisory Group's holdings in The Goldman Sachs Group were worth $2,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GS. Canada Pension Plan Investment Board increased its holdings in The Goldman Sachs Group by 28.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock worth $286,418,000 after acquiring an additional 116,535 shares during the period. Clear Creek Financial Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $321,000. Blueshift Asset Management LLC increased its holdings in The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock worth $576,000 after acquiring an additional 652 shares during the period. Adams Diversified Equity Fund Inc. increased its holdings in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after acquiring an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,643,000. Institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GS. BMO Capital Markets began coverage on shares of The Goldman Sachs Group in a report on Friday, October 3rd. They set a "market perform" rating and a $785.00 target price on the stock. JMP Securities reissued a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley cut their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their price target on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a "market perform" rating in a research note on Friday, October 17th. Finally, BNP Paribas Exane boosted their price target on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a "neutral" rating in a research note on Friday, October 17th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $779.50.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $759.22 on Wednesday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The stock has a market capitalization of $229.83 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42. The company has a fifty day moving average of $766.45 and a 200-day moving average of $674.16. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $11.33 billion during the quarter, compared to analysts' expectations of $13.68 billion. During the same quarter in the prior year, the company earned $8.40 EPS. The firm's revenue was up 19.5% on a year-over-year basis. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is 32.50%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John E. Waldron sold 9,000 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,707 shares of company stock valued at $19,094,804 in the last ninety days. 0.55% of the stock is owned by corporate insiders.

About The Goldman Sachs Group

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 Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

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