Balboa Wealth Partners Acquires 293 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Balboa Wealth Partners grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 22.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,624 shares of the investment management company’s stock after purchasing an additional 293 shares during the quarter. Balboa Wealth Partners’ holdings in The Goldman Sachs Group were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GS. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the second quarter worth $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. lifted its holdings in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, West Branch Capital LLC acquired a new position in The Goldman Sachs Group in the third quarter valued at about $30,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock valued at $6,656,119 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GS has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on 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. Barclays boosted 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. Royal Bank of Canada restated 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. Finally, UBS Group upped their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $527.63.

The Goldman Sachs Group Stock Down 1.0 %

Shares of The Goldman Sachs Group stock opened at $588.46 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $334.55 and a 12 month high of $607.15. The business has a fifty day simple moving average of $513.80 and a 200 day simple moving average of $486.51. 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 stock has a market cap of $184.72 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted 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 company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.47 EPS. Research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

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.