Harvey Investment Co. LLC Takes Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Harvey Investment Co. LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 420 shares of the investment management company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Procyon Advisors LLC boosted its stake in The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares during the period. Brookstone Capital Management raised its position in shares of The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 2,428 shares during the last quarter. Duality Advisers LP purchased a new position in The Goldman Sachs Group in the first quarter worth $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Up 0.5 %

Shares of The Goldman Sachs Group stock opened at $519.91 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $540.51. The company has a market cap of $167.65 billion, a P/E ratio of 20.20, a PEG ratio of 0.77 and a beta of 1.36. The company’s fifty day simple moving average is $499.70 and its two-hundred day simple moving average is $471.74.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The Goldman Sachs Group’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.47 earnings per share. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.31%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insider Buying and Selling

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GS shares. UBS Group lifted their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price 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. BMO Capital Markets increased their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. 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 research note on Wednesday, October 16th. Finally, Barclays upped their price objective 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. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $524.69.

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.