King Luther Capital Management Corp Sells 527 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

King Luther Capital Management Corp cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,494 shares of the investment management company’s stock after selling 527 shares during the quarter. King Luther Capital Management Corp’s holdings in The Goldman Sachs Group were worth $3,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group in 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 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % 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 business’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 transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 in the last 90 days. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 1.1 %

GS opened at $602.75 on Friday. The stock has a fifty day moving average of $529.52 and a 200-day moving average of $493.78. The company has a market capitalization of $189.21 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.84 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two week high of $607.15. 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 issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the company earned $5.47 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS 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. Investors of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Analysts Set New Price Targets

GS has been the subject of several analyst reports. Bank of America raised their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Oppenheimer upped 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 report on Tuesday, November 5th. Barclays raised their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target 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. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $542.00.

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.