Platform Technology Partners Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Platform Technology Partners lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,212 shares of the investment management company’s stock after selling 28 shares during the quarter. Platform Technology Partners’ holdings in The Goldman Sachs Group were worth $2,580,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB boosted its holdings in The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after buying an additional 438,754 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after buying an additional 356,512 shares in the last quarter. Swedbank AB purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth approximately $137,134,000. Finally, Third Point LLC acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $104,422,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. BMO Capital Markets increased their target price on 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. UBS Group lifted 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. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $527.63.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $602.34 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.72 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $323.53 and a one year high of $607.15. The company has a 50-day simple moving average of $509.63 and a 200-day simple moving average of $484.59. The stock has a market capitalization of $189.08 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The firm 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 11.39% and a net margin of 9.89%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.47 EPS. On average, analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed 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 of this dividend 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 (DPR) is 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group 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.