The Goldman Sachs Group, Inc. (NYSE:GS) Stake Trimmed by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,390 shares of the investment management company’s stock after selling 120 shares during the period. Cary Street Partners Asset Management LLC’s holdings in The Goldman Sachs Group were worth $2,668,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. FSM Wealth Advisors LLC acquired a new stake in The Goldman Sachs Group during the 3rd quarter valued at $203,000. Moloney Securities Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 14.7% during the third quarter. Moloney Securities Asset Management LLC now owns 2,989 shares of the investment management company’s stock valued at $1,480,000 after buying an additional 383 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in The Goldman Sachs Group during the third quarter valued at $58,000. Hazlett Burt & Watson Inc. lifted its stake in The Goldman Sachs Group by 19.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 775 shares of the investment management company’s stock worth $383,000 after acquiring an additional 128 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its position in The Goldman Sachs Group by 18.5% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 614 shares of the investment management company’s stock worth $304,000 after acquiring an additional 96 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Evercore ISI upped their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their target price on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group upped their price target on shares of 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. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

Insiders Place Their Bets

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 completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Trading Down 1.5 %

The Goldman Sachs Group stock opened at $511.47 on Tuesday. The Goldman Sachs Group, Inc. has a 52 week low of $319.66 and a 52 week high of $540.51. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11. The firm has a market capitalization of $161.52 billion, a PE ratio of 15.01, a PEG ratio of 0.75 and a beta of 1.35. The business’s 50-day simple moving average is $502.52 and its 200-day simple moving average is $478.89.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping 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 company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the business posted $5.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.