First American Bank Has $16.42 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

First American Bank raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,160 shares of the investment management company’s stock after buying an additional 724 shares during the quarter. The Goldman Sachs Group accounts for 1.2% of First American Bank’s investment portfolio, making the stock its 23rd largest holding. First American Bank’s holdings in The Goldman Sachs Group were worth $16,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GS. Riggs Asset Managment Co. Inc. grew its stake in shares of The Goldman Sachs Group by 33,934.5% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 9,870 shares of the investment management company’s stock valued at $4,887,000 after buying an additional 9,841 shares during the period. Custom Index Systems LLC bought a new position in The Goldman Sachs Group in the third quarter worth approximately $294,000. J.W. Cole Advisors Inc. grew its stake in The Goldman Sachs Group by 8.1% in the third quarter. J.W. Cole Advisors Inc. now owns 7,166 shares of the investment management company’s stock valued at $3,548,000 after acquiring an additional 540 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of The Goldman Sachs Group by 2.6% during the third quarter. State of Alaska Department of Revenue now owns 37,316 shares of the investment management company’s stock valued at $18,475,000 after acquiring an additional 955 shares in the last quarter. Finally, Clear Harbor Asset Management LLC raised its position in shares of The Goldman Sachs Group by 7.7% during the third quarter. Clear Harbor Asset Management LLC now owns 1,588 shares of the investment management company’s stock worth $786,000 after purchasing an additional 114 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Down 2.3 %

GS opened at $512.60 on Monday. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $540.51. The company’s 50-day moving average price is $500.37 and its two-hundred day moving average price is $473.75. The stock has a market cap of $161.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.75 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the company earned $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of the company’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 sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GS. Keefe, Bruyette & Woods lifted their price target on shares of 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. 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 report on Wednesday, October 9th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Barclays increased their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five investment 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 currently has an average rating of “Moderate Buy” and an average price target of $524.69.

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.