49 Wealth Management LLC Sells 37 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

49 Wealth Management LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,022 shares of the investment management company’s stock after selling 37 shares during the period. 49 Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GS. Mizuho Securities USA LLC lifted its holdings in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the last quarter. AMF Tjanstepension AB lifted its position in 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 buying an additional 743,402 shares in the last quarter. 1832 Asset Management L.P. increased its position in 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 acquiring an additional 438,754 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of The Goldman Sachs Group by 878.8% in 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 acquiring an additional 356,512 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of The Goldman Sachs Group during the first quarter worth approximately $137,134,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $597.01 on Friday. The firm’s fifty day moving average price is $527.04 and its 200-day moving average price is $492.68. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two week high of $607.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $187.41 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35.

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 company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the company earned $5.47 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Wall Street Analysts Forecast Growth

GS has been the topic of several research reports. JMP Securities upped their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Barclays lifted their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Citigroup lifted their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.00.

Insider Activity at The Goldman Sachs Group

In related news, 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 completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at $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. Insiders sold 11,390 shares of company stock worth $6,656,119 in the last three months. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Company 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.