Golden State Equity Partners Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Golden State Equity Partners decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 27.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,027 shares of the investment management company’s stock after selling 398 shares during the period. Golden State Equity Partners’ holdings in The Goldman Sachs Group were worth $508,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GS. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $26,000. POM Investment Strategies LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd 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 during the period. Finally, West Branch Capital LLC acquired a new position in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated 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 owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of several research analyst reports. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Morgan Stanley upped their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Oppenheimer boosted their price target on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, JMP Securities boosted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Up 0.0 %

Shares of NYSE:GS opened at $524.40 on Thursday. The Goldman Sachs Group, Inc. has a 52-week low of $300.70 and a 52-week high of $540.51. The business has a fifty day moving average of $501.86 and a two-hundred day moving average of $475.93. The stock has a market cap of $165.61 billion, a P/E ratio of 15.39, a PEG ratio of 0.75 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the company posted $5.47 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

The Goldman Sachs Group Company 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.