Geode Capital Management LLC Trims Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Geode Capital Management LLC trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,422,702 shares of the investment management company’s stock after selling 25,118 shares during the period. Geode Capital Management LLC’s holdings in The Goldman Sachs Group were worth $3,167,632,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brophy Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group in the third quarter valued at about $536,000. M&T Bank Corp increased its position in The Goldman Sachs Group by 0.6% during the 3rd quarter. M&T Bank Corp now owns 27,271 shares of the investment management company’s stock valued at $13,502,000 after purchasing an additional 157 shares during the period. Continuum Advisory LLC raised its holdings in shares of The Goldman Sachs Group by 27.4% in the 3rd quarter. Continuum Advisory LLC now owns 288 shares of the investment management company’s stock valued at $143,000 after purchasing an additional 62 shares in the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of The Goldman Sachs Group by 93.6% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 4,259 shares of the investment management company’s stock worth $2,109,000 after purchasing an additional 2,059 shares during the period. Finally, EWA LLC boosted its stake in shares of The Goldman Sachs Group by 10.7% during the third quarter. EWA LLC now owns 485 shares of the investment management company’s stock valued at $240,000 after purchasing an additional 47 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 0.9 %

The Goldman Sachs Group stock opened at $594.12 on Tuesday. The business’s 50-day simple moving average is $553.26 and its two-hundred day simple moving average is $505.37. 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 $186.50 billion, a PE ratio of 17.43, a PEG ratio of 0.87 and a beta of 1.38. The Goldman Sachs Group, Inc. has a fifty-two week low of $349.05 and a fifty-two week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results 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 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 EPS. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

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

Insider Buying and Selling at The Goldman Sachs Group

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 shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

GS has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. 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 note on Wednesday, October 16th. JMP Securities raised their price target on shares of 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. Finally, HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $559.75.

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.