Citizens Business Bank Trims Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Citizens Business Bank lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,521 shares of the investment management company’s stock after selling 74 shares during the quarter. The Goldman Sachs Group accounts for 1.1% of Citizens Business Bank’s portfolio, making the stock its 27th biggest holding. Citizens Business Bank’s holdings in The Goldman Sachs Group were worth $5,209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GS. Mizuho Securities USA LLC grew its holdings in The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the period. FMR LLC boosted its stake in shares of The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after acquiring an additional 521,054 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after acquiring an additional 438,754 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of The Goldman Sachs Group by 878.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after acquiring an additional 356,512 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock worth $205,403,000 after acquiring an additional 251,972 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 22,940 shares of company stock worth $13,717,979. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of recent analyst reports. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Oppenheimer upped their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Hsbc Global Res lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, JMP Securities increased their price target 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $559.75.

The Goldman Sachs Group Trading Down 1.6 %

Shares of GS stock opened at $584.86 on Wednesday. The Goldman Sachs Group, Inc. has a 1 year low of $349.05 and a 1 year high of $612.73. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $553.26 and its two-hundred day simple moving average is $505.37. The company has a market cap of $183.59 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.86 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the business posted $5.47 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

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

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.