TRUE Private Wealth Advisors Raises Position in The Goldman Sachs Group, Inc. (NYSE:GS)

TRUE Private Wealth Advisors raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,473 shares of the investment management company’s stock after acquiring an additional 76 shares during the period. TRUE Private Wealth Advisors’ holdings in The Goldman Sachs Group were worth $4,691,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Procyon Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management lifted its position in 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 valued at $2,268,000 after purchasing an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $5,529,000. Wedge Capital Management L L P NC increased its holdings in shares of The Goldman Sachs Group by 3.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after buying an additional 2,993 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of The Goldman Sachs Group by 24.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,987 shares of the investment management company’s stock valued at $6,779,000 after buying an additional 2,912 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 0.6 %

NYSE GS opened at $609.31 on Friday. The business’s 50-day moving average is $540.94 and its 200 day moving average is $499.16. The stock has a market capitalization of $191.27 billion, a PE ratio of 17.88, a PEG ratio of 0.88 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1 year low of $340.09 and a 1 year high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share 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 for the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the company earned $5.47 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.97%. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. UBS Group increased their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Citigroup increased their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Bank of America boosted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $550.63.

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.