The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by KBC Group NV

KBC Group NV raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 78.7% during the third quarter, HoldingsChannel reports. The firm owned 112,025 shares of the investment management company’s stock after buying an additional 49,343 shares during the period. KBC Group NV’s holdings in The Goldman Sachs Group were worth $55,465,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GS. Procyon Advisors LLC raised its stake in The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after acquiring an additional 43 shares during the last quarter. Brookstone Capital Management raised its stake in shares of The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after purchasing an additional 761 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after purchasing an additional 2,442 shares during the period. Granite Bay Wealth Management LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at $5,529,000. Finally, Bessemer Group Inc. increased its stake in The Goldman Sachs Group by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after buying an additional 7,826 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays raised their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Finally, Morgan Stanley upped their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $527.63.

The Goldman Sachs Group Trading Down 1.0 %

The Goldman Sachs Group stock opened at $588.46 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $334.55 and a 1 year high of $607.15. The firm’s 50-day moving average is $513.80 and its 200-day moving average is $486.51. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $184.72 billion, a P/E ratio of 17.27, a PEG ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the business earned $5.47 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.04%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group 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.