Coastline Trust Co Sells 1,025 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Coastline Trust Co cut its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 42.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,365 shares of the investment management company’s stock after selling 1,025 shares during the quarter. Coastline Trust Co’s holdings in The Goldman Sachs Group were worth $676,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth $27,000. SJS Investment Consulting Inc. grew its position in shares of The Goldman Sachs Group by 103.3% in the second 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 in the last quarter. Finally, West Branch Capital LLC bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In related news, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock valued at $6,656,119. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GS shares. Morgan Stanley raised their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note 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. Bank of America increased their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, JMP Securities upped their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus price target of $535.75.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $593.51 on Friday. The company has a market capitalization of $186.31 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.86 and a beta of 1.35. The business has a 50 day moving average of $518.10 and a 200 day moving average of $488.35. 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 Goldman Sachs Group, Inc. has a 1-year low of $334.55 and a 1-year high of $607.15.

The Goldman Sachs Group (NYSE:GS) last announced 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 company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.47 EPS. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed 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 2.02%. The Goldman Sachs Group’s dividend payout ratio is currently 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.