Shulman DeMeo Asset Management LLC Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Shulman DeMeo Asset Management LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 411 shares of the investment management company’s stock, valued at approximately $203,000.

A number of other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group in the second quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group in the second quarter worth $26,000. Headlands Technologies LLC purchased a new position in shares of The Goldman Sachs Group in the second quarter worth $27,000. Versant Capital Management Inc lifted its holdings in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 0.1 %

Shares of NYSE GS traded down $0.37 during mid-day trading on Tuesday, reaching $522.38. The company had a trading volume of 4,496,292 shares, compared to its average volume of 2,219,706. The business’s 50-day moving average is $494.34 and its 200-day moving average is $466.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market cap of $168.45 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $540.51.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $7.87 by $0.53. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.30%. The Goldman Sachs Group’s payout ratio is 46.86%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Citigroup upped their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Barclays upped their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $504.75.

About The Goldman Sachs Group

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.