Mill Creek Capital Advisors LLC Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Mill Creek Capital Advisors LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,108 shares of the investment management company’s stock after selling 86 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $2,034,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Procyon Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares during the last quarter. Brookstone Capital Management lifted its stake in The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of The Goldman Sachs Group by 25.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after acquiring an additional 2,442 shares during the period. Granite Bay Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group during the second quarter worth approximately $5,529,000. Finally, Bessemer Group Inc. raised its position in The Goldman Sachs Group by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after purchasing an additional 7,826 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related 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 value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GS shares. Bank of America raised their price objective on shares of 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. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays increased their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Trading Up 0.8 %

Shares of The Goldman Sachs Group stock opened at $593.54 on Friday. The company has a 50-day moving average of $518.10 and a two-hundred day moving average of $488.78. The Goldman Sachs Group, Inc. has a 12-month low of $334.55 and a 12-month high of $607.15. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market cap of $186.32 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $5.47 EPS. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a $3.00 dividend. 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 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.