The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,998 shares of the investment management company’s stock after buying an additional 724 shares during the quarter. Synovus Financial Corp’s holdings in The Goldman Sachs Group were worth $7,920,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GS. Procyon Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares during the last quarter. Brookstone Capital Management increased its position 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 worth $2,268,000 after buying an additional 761 shares during the period. Granite Bay Wealth Management LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at $5,529,000. Fisher Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 2.7% during the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after acquiring an additional 161,133 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of The Goldman Sachs Group by 129.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 23,709 shares of the investment management company’s stock worth $11,739,000 after acquiring an additional 13,398 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of a number of analyst reports. JMP Securities boosted their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group boosted 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. Bank of America raised their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $559.75.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $585.41 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $365.00 and a twelve month high of $612.73. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average of $561.07 and a two-hundred day moving average of $508.29. The company has a market capitalization of $183.77 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.86 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last released its 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 business had revenue of $12.70 billion during 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 11.39%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.47 earnings per share. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed 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 2.05%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,940 shares of company stock worth $13,717,979 in the last three months. 0.54% of the stock is currently owned by insiders.

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.