Wharton Business Group LLC Purchases 9,635 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Wharton Business Group LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 16.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,412 shares of the investment management company’s stock after acquiring an additional 9,635 shares during the quarter. The Goldman Sachs Group accounts for 1.5% of Wharton Business Group LLC’s holdings, making the stock its 20th largest holding. Wharton Business Group LLC’s holdings in The Goldman Sachs Group were worth $33,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. Acadian Asset Management LLC grew its position in shares of The Goldman Sachs Group by 407.2% during the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock worth $175,000 after buying an additional 338 shares during the period. Resurgent Financial Advisors LLC lifted its stake in The Goldman Sachs Group by 61.9% during the 1st quarter. Resurgent Financial Advisors LLC now owns 523 shares of the investment management company’s stock valued at $218,000 after acquiring an additional 200 shares in the last quarter. Seven Eight Capital LP bought a new position in The Goldman Sachs Group during the 1st quarter valued at $2,039,000. Clearbridge Investments LLC raised its stake in shares of The Goldman Sachs Group by 70.2% during the 1st quarter. Clearbridge Investments LLC now owns 321,886 shares of the investment management company’s stock worth $134,448,000 after purchasing an additional 132,724 shares during the period. Finally, Point Break Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 74.9% during the 1st quarter. Point Break Capital Management LLC now owns 1,618 shares of the investment management company’s stock worth $676,000 after purchasing an additional 693 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.1 %

GS stock opened at $593.23 on Monday. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.55 and a fifty-two week high of $607.15. The business’s 50-day moving average is $518.10 and its two-hundred day moving average is $489.21. 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 company has a market cap of $186.22 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results 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 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 for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the company earned $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business 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 $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s 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 completion of the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GS. Morgan Stanley lifted their price objective 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. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Barclays boosted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group boosted their price objective 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. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $535.75.

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.