The Goldman Sachs Group, Inc. (NYSE:GS) Shares Acquired by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 19.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,720 shares of the investment management company’s stock after buying an additional 277 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Dallas Securities Inc. boosted its holdings in shares of The Goldman Sachs Group by 8.2% during the third quarter. First Dallas Securities Inc. now owns 1,260 shares of the investment management company’s stock worth $624,000 after purchasing an additional 95 shares during the last quarter. JDM Financial Group LLC purchased a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $42,000. Brophy Wealth Management LLC acquired a new position in The Goldman Sachs Group in the third quarter valued at $536,000. M&T Bank Corp increased its stake in The Goldman Sachs Group by 0.6% during the third quarter. M&T Bank Corp now owns 27,271 shares of the investment management company’s stock worth $13,502,000 after acquiring an additional 157 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of The Goldman Sachs Group by 27.4% in the 3rd quarter. Continuum Advisory LLC now owns 288 shares of the investment management company’s stock worth $143,000 after purchasing an additional 62 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on GS. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Citigroup increased their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group boosted their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays boosted their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $559.75.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were 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. The trade was a 16.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Solomon sold 6,550 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This trade represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Trading Down 0.9 %

NYSE GS opened at $594.12 on Tuesday. The firm has a market capitalization of $186.50 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. The Goldman Sachs Group, Inc. has a one year low of $349.05 and a one year high of $612.73. The company has a 50-day simple moving average of $553.26 and a 200-day simple moving average of $505.37. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

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.