Tower Wealth Partners Inc. Trims Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Tower Wealth Partners Inc. lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,023 shares of the investment management company’s stock after selling 26 shares during the period. Tower Wealth Partners Inc.’s holdings in The Goldman Sachs Group were worth $506,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Norden Group LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth about $2,423,000. Private Advisor Group LLC increased its holdings in shares of The Goldman Sachs Group by 42.2% in the 1st quarter. Private Advisor Group LLC now owns 26,336 shares of the investment management company’s stock worth $11,000,000 after buying an additional 7,822 shares during the last quarter. Mission Wealth Management LP raised its position in shares of The Goldman Sachs Group by 61.8% during the 1st quarter. Mission Wealth Management LP now owns 2,087 shares of the investment management company’s stock valued at $872,000 after buying an additional 797 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of The Goldman Sachs Group by 1.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,729 shares of the investment management company’s stock valued at $32,467,000 after buying an additional 1,440 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of The Goldman Sachs Group by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 94,178 shares of the investment management company’s stock worth $39,337,000 after acquiring an additional 4,716 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $519.35 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $308.00 and a twelve month high of $540.51. The company has a 50 day moving average of $502.45 and a 200 day moving average of $477.05. The firm has a market cap of $164.01 billion, a P/E ratio of 15.24, a PEG ratio of 0.76 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 earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $11.77 billion. During the same period last year, the firm posted $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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 issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GS shares. Oppenheimer upped their target price 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. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of 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. Barclays lifted their price objective 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. Finally, UBS Group increased their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $524.69.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group 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.