The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 61.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,034 shares of the investment management company’s stock after selling 138,051 shares during the period. Los Angeles Capital Management LLC’s holdings in The Goldman Sachs Group were worth $42,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GS. Waldron Private Wealth LLC boosted its stake in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after purchasing an additional 20 shares during the period. First Pacific Financial boosted its stake in The Goldman Sachs Group by 0.6% during the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after purchasing an additional 20 shares during the period. Krane Funds Advisors LLC boosted its stake in The Goldman Sachs Group by 1.7% during the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares during the period. Tanager Wealth Management LLP boosted its stake in The Goldman Sachs Group by 3.6% during the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 20 shares during the period. Finally, M3 Advisory Group LLC boosted its stake in The Goldman Sachs Group by 3.9% during the 3rd quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after purchasing an additional 21 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

GS stock traded up $7.09 during midday trading on Friday, reaching $589.26. 2,713,956 shares of the company’s stock traded hands, compared to its average volume of 2,268,716. The company has a 50-day simple moving average of $507.79 and a two-hundred day simple moving average of $482.88. The Goldman Sachs Group, Inc. has a 1-year low of $319.66 and a 1-year high of $598.60. The company has a market cap of $184.97 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.87 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share 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 firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the firm posted $5.47 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.04%. The Goldman Sachs Group’s payout ratio is 35.21%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GS. Morgan Stanley increased their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $527.63.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,390 shares of company stock worth $6,656,119. Insiders own 0.54% of the company’s stock.

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.