Fmr LLC Raises Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Fmr LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 21.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,898,637 shares of the investment management company’s stock after purchasing an additional 521,054 shares during the quarter. Fmr LLC owned 0.92% of The Goldman Sachs Group worth $1,435,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. increased its position 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 valued at $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 63 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GS has been the subject of a number of research analyst reports. Evercore ISI increased their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Citigroup raised their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $550.63.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $605.22 on Wednesday. The firm has a market capitalization of $189.98 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52-week low of $334.87 and a 52-week high of $611.30. The stock has a fifty day moving average of $534.27 and a 200 day moving average of $496.57. 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 posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the company earned $5.47 earnings per share. The firm’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 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.98%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group 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 transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

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.