Acropolis Investment Management LLC Increases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Acropolis Investment Management LLC increased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 41.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 342 shares of the investment management company’s stock after purchasing an additional 100 shares during the period. Acropolis Investment Management LLC’s holdings in The Goldman Sachs Group were worth $169,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GS. Procyon Advisors LLC boosted its stake in 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 valued at $411,000 after acquiring an additional 43 shares during the period. Brookstone Capital Management boosted its stake in The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares during the period. Granite Bay Wealth Management LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $5,529,000. Wedge Capital Management L L P NC boosted its stake in 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 valued at $45,286,000 after acquiring an additional 2,993 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in The Goldman Sachs Group by 24.1% in 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 acquiring an additional 2,912 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE GS opened at $608.57 on Friday. The stock has a market capitalization of $191.04 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $340.09 and a 1 year high of $612.73. The business’s fifty day moving average is $540.94 and its two-hundred day moving average is $499.44. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the company earned $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were 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 in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research reports. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their target price for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Evercore ISI lifted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $550.63.

The Goldman Sachs Group Company 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.