New Covenant Trust Company N.A. Boosts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

New Covenant Trust Company N.A. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 525 shares of the investment management company’s stock after purchasing an additional 49 shares during the period. New Covenant Trust Company N.A.’s holdings in The Goldman Sachs Group were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northern Financial Advisors Inc lifted its holdings in The Goldman Sachs Group by 1.3% during the third quarter. Northern Financial Advisors Inc now owns 3,856 shares of the investment management company’s stock worth $1,909,000 after buying an additional 48 shares during the period. Optas LLC increased its holdings in shares of The Goldman Sachs Group by 220.8% in the 3rd quarter. Optas LLC now owns 3,647 shares of the investment management company’s stock valued at $1,806,000 after acquiring an additional 2,510 shares during the period. Princeton Global Asset Management LLC raised its position in shares of The Goldman Sachs Group by 8.1% in the 3rd quarter. Princeton Global Asset Management LLC now owns 2,061 shares of the investment management company’s stock worth $1,020,000 after acquiring an additional 154 shares in the last quarter. F M Investments LLC lifted its stake in shares of The Goldman Sachs Group by 48.9% during the 3rd quarter. F M Investments LLC now owns 4,046 shares of the investment management company’s stock worth $2,003,000 after purchasing an additional 1,329 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new stake in The Goldman Sachs Group during the third quarter valued at about $220,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $519.35 on Friday. The company has a 50 day simple moving average of $502.45 and a two-hundred day simple moving average of $477.61. The stock has a market cap of $164.01 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.75 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The Goldman Sachs Group, Inc. has a 12 month low of $308.00 and a 12 month high of $540.51.

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

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Activity 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 that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently 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.