The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,738 shares of the investment management company’s stock after selling 6,854 shares during the period. Intech Investment Management LLC’s holdings in The Goldman Sachs Group were worth $10,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Procyon Advisors LLC grew its holdings in The Goldman Sachs Group by 5.5% in the third 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 grew its stake in The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $5,529,000. Wedge Capital Management L L P NC raised its position in The Goldman Sachs Group by 3.1% during the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after acquiring an additional 2,993 shares during the last quarter. Finally, PGGM Investments lifted its holdings in shares of The Goldman Sachs Group by 341.8% in the first quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock valued at $4,815,000 after purchasing an additional 8,918 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GS shares. UBS Group lifted their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Oppenheimer boosted their target price on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley lifted 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 report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $542.00.

The Goldman Sachs Group Trading Up 2.6 %

GS stock opened at $597.01 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market cap of $187.41 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.84 and a beta of 1.35. The business has a fifty day simple moving average of $527.04 and a 200-day simple moving average of $492.68. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $607.15.

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

The Goldman Sachs Group Announces Dividend

The firm 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 is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.01%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s 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 approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. 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 ninety days. 0.54% of the stock is owned by company insiders.

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.