SFG Wealth Management LLC. acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 435 shares of the investment management company’s stock, valued at approximately $215,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GS. Procyon Advisors LLC raised its position in The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after acquiring an additional 43 shares during the last quarter. Brookstone Capital Management raised its position in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after acquiring an additional 761 shares during the last quarter. Empowered Funds LLC raised its position in The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 2,428 shares during the last quarter. Duality Advisers LP acquired a new position in The Goldman Sachs Group during the first quarter worth about $1,388,000. Finally, Axxcess Wealth Management LLC raised its position in The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GS. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Bank of America lifted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer lifted their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $527.63.
The Goldman Sachs Group Trading Up 1.0 %
GS traded up $6.00 during trading on Friday, hitting $588.17. 518,496 shares of the company’s stock were exchanged, compared to its average volume of 2,219,805. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The Goldman Sachs Group, Inc. has a 1 year low of $319.66 and a 1 year high of $598.60. The stock has a 50 day moving average price of $504.77 and a 200 day moving average price of $480.57. The firm has a market cap of $185.74 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its quarterly earnings data 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 net margin of 9.89% and a return on equity of 11.05%. 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 firm earned $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.
The Goldman Sachs Group Dividend Announcement
The company also recently announced 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 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 payout ratio is currently 35.21%.
Insider Transactions at The Goldman Sachs Group
In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.
About The Goldman Sachs Group
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.
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