Heritage Investors Management Corp Sells 2,404 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Heritage Investors Management Corp lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,474 shares of the investment management company’s stock after selling 2,404 shares during the period. The Goldman Sachs Group comprises 1.0% of Heritage Investors Management Corp’s holdings, making the stock its 27th biggest holding. Heritage Investors Management Corp’s holdings in The Goldman Sachs Group were worth $31,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter worth about $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter worth about $27,000. SJS Investment Consulting Inc. grew its holdings in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, West Branch Capital LLC bought a new stake in shares of The Goldman Sachs Group during the third quarter worth about $30,000. Institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’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 transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on GS shares. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target 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. Bank of America boosted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer lifted their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Trading Up 0.6 %

GS traded up $3.25 during trading on Tuesday, hitting $514.72. The company’s stock had a trading volume of 121,873 shares, compared to its average volume of 2,180,433. 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, Inc. has a twelve month low of $319.66 and a twelve month high of $540.51. The stock’s fifty day moving average price is $502.52 and its 200-day moving average price is $478.89. The firm has a market capitalization of $162.55 billion, a P/E ratio of 15.01, a PEG ratio of 0.75 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results 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 11.05% and a net margin of 9.89%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the firm earned $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS 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. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.33%. 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.