The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Hartford Investment Management Co.

by · The Cerbat Gem

Hartford Investment Management Co. lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,875 shares of the investment management company’s stock after selling 801 shares during the period. Hartford Investment Management Co.’s holdings in The Goldman Sachs Group were worth $9,840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GS. Procyon Advisors LLC increased its position 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 worth $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of The Goldman Sachs Group by 19.9% during 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 in the last quarter. Empowered Funds LLC raised its position in shares of The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after buying an additional 2,428 shares during the last quarter. Duality Advisers LP purchased a new position in shares of The Goldman Sachs Group during the first quarter valued at approximately $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in The Goldman Sachs Group by 34.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after acquiring an additional 2,103 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.0 %

Shares of NYSE:GS traded down $0.06 during trading on Wednesday, hitting $518.24. The company’s stock had a trading volume of 56,044 shares, compared to its average volume of 2,203,399. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $540.51. The stock’s 50-day moving average price is $499.33 and its two-hundred day moving average price is $471.42. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $167.11 billion, a PE ratio of 20.24, a PEG ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS – Get Free Report) 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 Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the firm earned $5.47 EPS. The company’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analyst Ratings Changes

Several equities analysts recently commented on GS shares. UBS Group upped their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer boosted their price target on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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 report on Tuesday, July 16th. Barclays boosted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $524.69.

Get Our Latest Stock Report on GS

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

About The Goldman Sachs Group

(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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