Dai ichi Life Insurance Company Ltd Decreases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Dai ichi Life Insurance Company Ltd reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 19.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,469 shares of the investment management company’s stock after selling 6,009 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in The Goldman Sachs Group were worth $12,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in GS. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $26,000. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. increased its stake in The Goldman Sachs Group by 103.3% in the second 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 period. Finally, West Branch Capital LLC bought a new stake in shares of The Goldman Sachs Group during the third quarter worth $30,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Up 0.0 %

NYSE:GS opened at $603.03 on Tuesday. The stock has a fifty day moving average price of $531.87 and a 200 day moving average price of $495.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12-month low of $334.87 and a 12-month high of $611.30. The firm has a market cap of $189.30 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping 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 business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the company posted $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. 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 1.99%. The Goldman Sachs Group’s payout ratio is 35.21%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GS shares. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. UBS Group boosted their price target 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. Bank of America lifted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on 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. Finally, JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $550.63.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This trade represents 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 in the last 90 days. Company insiders own 0.57% of the company’s stock.

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.