The Manufacturers Life Insurance Company Trims Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

by · The Markets Daily

The Manufacturers Life Insurance Company decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,156,591 shares of the investment management company’s stock after selling 36,602 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The Goldman Sachs Group were worth $572,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GS. Acadian Asset Management LLC grew its position in The Goldman Sachs Group by 407.2% during the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after acquiring an additional 338 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of The Goldman Sachs Group by 0.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,375 shares of the investment management company’s stock worth $8,928,000 after purchasing an additional 109 shares during the period. Janus Henderson Group PLC grew its holdings in shares of The Goldman Sachs Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 57,734 shares of the investment management company’s stock worth $24,114,000 after purchasing an additional 1,002 shares during the period. Dynasty Wealth Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,064,000. Finally, SkyView Investment Advisors LLC raised its holdings in The Goldman Sachs Group by 2.6% in the first quarter. SkyView Investment Advisors LLC now owns 2,980 shares of the investment management company’s stock valued at $1,245,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.0 %

Shares of NYSE:GS opened at $603.03 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company’s 50-day moving average price is $531.87 and its 200 day moving average price is $495.51. The company has a market cap of $189.30 billion, a PE ratio of 17.69, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two week high of $611.30.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the business earned $5.47 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In related 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 transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s 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 completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GS. UBS Group increased their price objective on shares of 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. Oppenheimer increased their price target on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. 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. Finally, 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 report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $542.00.

Read Our Latest Stock Analysis on The Goldman Sachs Group

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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