Diversified Portfolios Inc. Sells 44 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Diversified Portfolios Inc. lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 561 shares of the investment management company’s stock after selling 44 shares during the period. Diversified Portfolios Inc.’s holdings in The Goldman Sachs Group were worth $278,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $588.46 on Friday. The stock has a market capitalization of $184.72 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 1-year low of $334.55 and a 1-year high of $607.15. The business has a 50-day moving average price of $513.80 and a two-hundred day moving average price of $486.51.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the firm earned $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued 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 2.04%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Analysts Set New Price Targets

GS has been the subject of several analyst reports. Barclays raised their target price on 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. UBS Group boosted their target price on shares of 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. Bank of America increased their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $527.63.

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.