The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Cut by Financial Advocates Investment Management

by · The Cerbat Gem

Financial Advocates Investment Management reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 18.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,559 shares of the investment management company’s stock after selling 356 shares during the period. Financial Advocates Investment Management’s holdings in The Goldman Sachs Group were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GS. Procyon Advisors LLC boosted its stake in The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management raised 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 acquiring an additional 761 shares in the last quarter. Empowered Funds LLC lifted its holdings in The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after acquiring an additional 2,428 shares during the last quarter. Duality Advisers LP bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of The Goldman Sachs Group by 34.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after purchasing an additional 2,103 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group raised their target price on shares of 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 raised their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Barclays lifted their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $524.69.

Read Our Latest Analysis on The Goldman Sachs Group

The Goldman Sachs Group Stock Performance

GS stock opened at $519.35 on Friday. The firm has a 50 day moving average of $502.45 and a two-hundred day moving average of $477.05. The Goldman Sachs Group, Inc. has a 12 month low of $308.00 and a 12 month high of $540.51. The company has a market capitalization of $164.01 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.76 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the business posted $5.47 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.31%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Activity

In other news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated 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 transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Profile

(Free Report)

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.

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