Townsquare Capital LLC Acquires 1,675 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Townsquare Capital LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 30.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,135 shares of the investment management company’s stock after purchasing an additional 1,675 shares during the quarter. Townsquare Capital LLC’s holdings in The Goldman Sachs Group were worth $3,533,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Procyon Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after buying an additional 43 shares in the last quarter. Brookstone Capital Management boosted its holdings 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 purchasing an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter worth about $5,529,000. Wedge Capital Management L L P NC lifted its position in shares of The Goldman Sachs Group by 3.1% in the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after buying an additional 2,993 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in The Goldman Sachs Group by 24.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,987 shares of the investment management company’s stock valued at $6,779,000 after buying an additional 2,912 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

GS stock opened at $609.31 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $340.09 and a twelve month high of $612.73. The firm has a market cap of $191.27 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.88 and a beta of 1.35. The business’s fifty day simple moving average is $540.94 and its two-hundred day simple moving average is $499.16. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

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, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.47 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GS shares. Bank of America lifted their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped 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 note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $550.63.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the business’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 completion of the sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,390 shares of company stock worth $6,656,119. Company insiders own 0.54% of the company’s stock.

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.