Oppenheimer & Co. Inc. Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Oppenheimer & Co. Inc. cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,428 shares of the investment management company’s stock after selling 1,237 shares during the period. Oppenheimer & Co. Inc.’s holdings in The Goldman Sachs Group were worth $32,394,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Waldron Private Wealth LLC raised its position in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the last quarter. First Pacific Financial increased its holdings in The Goldman Sachs Group by 0.6% during the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after acquiring an additional 20 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in The Goldman Sachs Group by 1.7% during the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after acquiring an additional 20 shares in the last quarter. Tanager Wealth Management LLP increased its holdings in The Goldman Sachs Group by 3.6% during the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after acquiring an additional 20 shares in the last quarter. Finally, M3 Advisory Group LLC boosted its stake in shares of The Goldman Sachs Group by 3.9% during the 3rd quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock worth $279,000 after purchasing an additional 21 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Bank of America lifted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average price target of $527.63.

Insider Activity at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is owned by corporate insiders.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $5.88 during trading on Wednesday, hitting $598.47. The company had a trading volume of 153,057 shares, compared to its average volume of 2,222,499. The stock’s 50-day moving average price is $511.74 and its 200 day moving average price is $485.75. 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, Inc. has a one year low of $332.47 and a one year high of $607.15. The firm has a market capitalization of $187.87 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35.

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 for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business 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 in the prior year, the business posted $5.47 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.01%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.