Utah Retirement Systems Lowers Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Utah Retirement Systems reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.4% in the first quarter, HoldingsChannel reports. The fund owned 63,557 shares of the investment management company’s stock after selling 2,900 shares during the period. Utah Retirement Systems’ holdings in The Goldman Sachs Group were worth $20,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. RMR Wealth Builders purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $26,000. IronBridge Private Wealth LLC purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $26,000. Curi Capital purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $29,000. Tacita Capital Inc purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $33,000. Finally, Cordasco Financial Network purchased a new position in The Goldman Sachs Group in the first quarter worth about $33,000. 71.25% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on GS shares. Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $493.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. Royal Bank of Canada set a $370.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 13th. DA Davidson boosted their price objective on shares of The Goldman Sachs Group from $347.00 to $378.00 and gave the company a “neutral” rating in a report on Thursday, April 15th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $390.00 to $410.00 in a research report on Friday, April 23rd. Finally, Zacks Investment Research lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and set a $367.00 target price for the company. in a research report on Wednesday, May 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $392.45.

The Goldman Sachs Group stock traded down $1.71 during mid-day trading on Thursday, reaching $371.79. 24,490 shares of the company’s stock traded hands, compared to its average volume of 2,678,760. The stock has a market capitalization of $126.32 billion, a P/E ratio of 6.74 and a beta of 1.48. The firm’s 50 day moving average price is $370.57. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.81 and a current ratio of 1.20. The Goldman Sachs Group, Inc. has a 12-month low of $185.52 and a 12-month high of $393.26.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, July 12th. The investment management company reported $15.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.24 by $4.78. The Goldman Sachs Group had a net margin of 33.03% and a return on equity of 22.93%. The business had revenue of $15.39 billion for the quarter, compared to the consensus estimate of $12.17 billion. During the same quarter in the prior year, the firm posted $6.26 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 52.72 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 1st will be paid a $2.00 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 2.15%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $1.25. The Goldman Sachs Group’s dividend payout ratio is currently 14.60%.

The Goldman Sachs Group Profile

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

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

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