Mill Creek Capital Advisors LLC Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Mill Creek Capital Advisors LLC cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,108 shares of the investment management company’s stock after selling 86 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $2,034,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GS. First Foundation Advisors increased its stake in The Goldman Sachs Group by 17.0% during the 1st quarter. First Foundation Advisors now owns 625 shares of the investment management company’s stock worth $261,000 after buying an additional 91 shares in the last quarter. Acadian Asset Management LLC raised its stake in The Goldman Sachs Group by 407.2% in the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after purchasing an additional 338 shares during the last quarter. Patten & Patten Inc. TN lifted its holdings in The Goldman Sachs Group by 9.2% in the 1st quarter. Patten & Patten Inc. TN now owns 3,864 shares of the investment management company’s stock valued at $1,614,000 after purchasing an additional 324 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in The Goldman Sachs Group by 1.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares during the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $301,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 0.8 %

Shares of NYSE:GS opened at $593.54 on Friday. The firm has a market capitalization of $186.32 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $334.55 and a 1 year high of $607.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50-day moving average is $518.10 and its two-hundred day moving average is $488.78.

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, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for 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 firm’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 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.02%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 in the last quarter. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GS shares. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays upped their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted 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. Oppenheimer boosted their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $535.75.

About The Goldman Sachs Group

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.