Golden State Equity Partners Sells 398 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Golden State Equity Partners trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 27.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,027 shares of the investment management company’s stock after selling 398 shares during the quarter. Golden State Equity Partners’ holdings in The Goldman Sachs Group were worth $508,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in The Goldman Sachs Group by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after acquiring an additional 68,141 shares during the period. Jennison Associates LLC lifted its holdings in The Goldman Sachs Group by 18.0% in the first quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock valued at $752,425,000 after acquiring an additional 274,509 shares during the period. Capital Wealth Planning LLC lifted its holdings in The Goldman Sachs Group by 0.3% in the first quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock valued at $498,472,000 after acquiring an additional 3,396 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in The Goldman Sachs Group by 34.8% in the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock valued at $381,598,000 after acquiring an additional 217,954 shares during the period. 71.21% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 transaction of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Stock Up 0.0 %

NYSE:GS opened at $524.40 on Thursday. The Goldman Sachs Group, Inc. has a twelve month low of $300.70 and a twelve month high of $540.51. The company has a market cap of $165.61 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. The stock has a fifty day simple moving average of $501.86 and a 200-day simple moving average of $475.93. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07.

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 for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $5.47 earnings per share. Analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company 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. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GS shares. Oppenheimer increased their target price on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group boosted their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Citigroup increased their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price objective on shares of 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, Evercore ISI increased 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 report on Wednesday, October 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, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

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.