Peapack Gladstone Financial Corp Has $9.04 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Peapack Gladstone Financial Corp cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 29.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,262 shares of the investment management company’s stock after selling 7,723 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in The Goldman Sachs Group were worth $9,042,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GS. Triad Wealth Partners LLC acquired a new position in The Goldman Sachs Group during the second quarter worth $31,000. Blue Trust Inc. grew its position in shares of The Goldman Sachs Group by 34.2% in the 2nd quarter. Blue Trust Inc. now owns 1,362 shares of the investment management company’s stock valued at $569,000 after acquiring an additional 347 shares during the period. Brookstone Capital Management increased its stake in shares of The Goldman Sachs Group by 64.7% during the 2nd quarter. Brookstone Capital Management now owns 3,821 shares of the investment management company’s stock worth $1,919,000 after purchasing an additional 1,501 shares during the last quarter. Everpar Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at about $313,000. Finally, Raymond James & Associates lifted its stake in The Goldman Sachs Group by 1.5% in the 2nd quarter. Raymond James & Associates now owns 536,968 shares of the investment management company’s stock valued at $242,881,000 after purchasing an additional 7,802 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $585.41 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $365.00 and a 12-month high of $612.73. The firm has a 50-day moving average price of $561.07 and a two-hundred day moving average price of $508.29. The company has a market capitalization of $183.77 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.86 and a beta of 1.38. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share 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 the consensus estimate of $11.77 billion. During the same period in the previous year, the business earned $5.47 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group 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 transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the completion of the transaction, the director now directly owns 608,425 shares in the company, valued at approximately $372,404,774. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,940 shares of company stock worth $13,717,979. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GS shares. Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Citigroup increased their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $559.75.

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.