Aviance Capital Partners LLC Has $2.85 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Aviance Capital Partners LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 5,776 shares of the investment management company’s stock after selling 64 shares during the quarter. Aviance Capital Partners LLC’s holdings in The Goldman Sachs Group were worth $2,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wharton Business Group LLC lifted its stake in shares of The Goldman Sachs Group by 16.4% in the 3rd quarter. Wharton Business Group LLC now owns 68,412 shares of the investment management company’s stock valued at $33,872,000 after purchasing an additional 9,635 shares during the period. Drive Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 3.9% in the 3rd quarter. Drive Wealth Management LLC now owns 897 shares of the investment management company’s stock worth $444,000 after acquiring an additional 34 shares during the last quarter. Mendel Capital Management LLC lifted its holdings in shares of The Goldman Sachs Group by 7.8% in the third quarter. Mendel Capital Management LLC now owns 1,441 shares of the investment management company’s stock valued at $714,000 after purchasing an additional 104 shares in the last quarter. Aviso Wealth Management boosted its holdings in The Goldman Sachs Group by 1.5% during the 3rd quarter. Aviso Wealth Management now owns 2,684 shares of the investment management company’s stock worth $1,329,000 after acquiring an additional 40 shares during the last quarter. Finally, Braun Stacey Associates Inc. boosted its holdings in The Goldman Sachs Group by 434.4% during the third quarter. Braun Stacey Associates Inc. now owns 6,889 shares of the investment management company’s stock worth $3,411,000 after purchasing an additional 5,600 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JMP Securities upped their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays raised their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $535.75.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $588.06 on Tuesday. The stock has a 50 day moving average price of $520.09 and a 200 day moving average price of $490.31. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15. 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 firm has a market capitalization of $184.60 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.47 earnings per share. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,390 shares of company stock worth $6,656,119. 0.57% of the stock is currently owned by company insiders.

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.