Patton Albertson Miller Group LLC Has $8.20 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Patton Albertson Miller Group LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,558 shares of the investment management company’s stock after selling 1,045 shares during the period. The Goldman Sachs Group accounts for approximately 1.1% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 29th largest holding. Patton Albertson Miller Group LLC’s holdings in The Goldman Sachs Group were worth $8,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities USA LLC grew its stake in shares of The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after purchasing an additional 7,475,140 shares during the period. Fisher Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 2.7% during the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after purchasing an additional 161,133 shares during the period. Legal & General Group Plc grew its stake in shares of The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after purchasing an additional 77,700 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of The Goldman Sachs Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after purchasing an additional 68,141 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of The Goldman Sachs Group by 0.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock worth $494,187,000 after purchasing an additional 4,007 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Morgan Stanley boosted 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, UBS Group boosted 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. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $550.63.

The Goldman Sachs Group Stock Performance

GS opened at $603.03 on Tuesday. The Goldman Sachs Group, Inc. has a 52-week low of $334.87 and a 52-week high of $611.30. The firm has a market capitalization of $189.30 billion, a PE ratio of 17.69, a PEG ratio of 0.88 and a beta of 1.35. 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 business’s 50-day simple moving average is $531.87 and its 200 day simple moving average is $495.51.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the company posted $5.47 earnings per share. The Goldman Sachs Group’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 37.15 earnings per share for the current fiscal 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 issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 1.99%. The Goldman Sachs Group’s payout ratio is presently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents 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 worth $6,656,119. Corporate insiders own 0.57% of the company’s stock.

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.