Prio Wealth Limited Partnership Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Prio Wealth Limited Partnership reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,492 shares of the investment management company’s stock after selling 5,488 shares during the period. The Goldman Sachs Group accounts for about 1.4% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 20th biggest position. Prio Wealth Limited Partnership’s holdings in The Goldman Sachs Group were worth $47,774,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Violich Capital Management Inc. lifted its position in shares of The Goldman Sachs Group by 14.6% in the third quarter. Violich Capital Management Inc. now owns 5,100 shares of the investment management company’s stock worth $2,525,000 after buying an additional 650 shares in the last quarter. Calton & Associates Inc. raised its position in The Goldman Sachs Group by 453.3% during the third quarter. Calton & Associates Inc. now owns 10,281 shares of the investment management company’s stock valued at $5,090,000 after purchasing an additional 8,423 shares during the period. Vest Financial LLC raised its position in The Goldman Sachs Group by 196.1% during the third quarter. Vest Financial LLC now owns 1,510 shares of the investment management company’s stock valued at $748,000 after purchasing an additional 1,000 shares during the period. West Branch Capital LLC purchased a new stake in The Goldman Sachs Group during the third quarter valued at approximately $30,000. Finally, Cyndeo Wealth Partners LLC raised its position in The Goldman Sachs Group by 14.2% during the third quarter. Cyndeo Wealth Partners LLC now owns 3,769 shares of the investment management company’s stock valued at $1,866,000 after purchasing an additional 468 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays upped their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group increased their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Stock Down 0.8 %

Shares of GS traded down $4.06 during midday trading on Monday, hitting $524.44. 361,001 shares of the company’s stock traded hands, compared to its average volume of 2,210,164. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51. The firm’s fifty day moving average is $498.15 and its 200-day moving average is $469.85. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $169.11 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the business posted $5.47 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current 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. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.