The Goldman Sachs Group, Inc. $GS Stock Holdings Reduced by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System has reduced its holdings in The Goldman Sachs Group by 0.4%, now owning approximately 0.08% of the company, valued at $184.31 million.
• Goldman Sachs recently reported earnings of $12.25 per share, significantly exceeding the consensus estimate of $10.27, despite revenue falling short of expectations at $11.33 billion.
• The company announced a quarterly dividend of $4.00 per share, to be paid on December 30th, representing a 2.1% yield on an annualized basis.

New York State Teachers Retirement System lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,418 shares of the investment management company's stock after selling 1,037 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of The Goldman Sachs Group worth $184,311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of The Goldman Sachs Group by 617,504.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $1,766,238,000. Nuveen LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $897,185,000. Ninety One UK Ltd bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $408,780,000. Finally, Cohen Investment Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 5,559.2% during the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock worth $256,876,000 after acquiring an additional 461,911 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $768.20 on Thursday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. 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 stock has a market capitalization of $232.55 billion, a PE ratio of 15.60, a P/E/G ratio of 1.45 and a beta of 1.42. The stock has a 50-day simple moving average of $763.93 and a 200 day simple moving average of $666.82.

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

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GS shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Barclays upped their price target on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an "overweight" rating in a research note on Wednesday. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC boosted their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Finally, BMO Capital Markets began coverage on The Goldman Sachs Group in a research report on Friday, October 3rd. They set a "market perform" rating and a $785.00 price objective for the company. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $765.07.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.