First Horizon Advisors Inc. Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

First Horizon Advisors Inc. lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,814 shares of the investment management company’s stock after selling 165 shares during the quarter. First Horizon Advisors Inc.’s holdings in The Goldman Sachs Group were worth $899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Waldron Private Wealth LLC raised its stake in The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after buying an additional 20 shares during the last quarter. First Pacific Financial grew its holdings in shares of The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after buying an additional 20 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares during the period. Tanager Wealth Management LLP raised its holdings in The Goldman Sachs Group by 3.6% in the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after buying an additional 20 shares during the period. Finally, M3 Advisory Group LLC lifted its position in shares of The Goldman Sachs Group by 3.9% during the third quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock worth $279,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 2.6 %

GS stock opened at $597.01 on Friday. The company has a market cap of $187.41 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The stock’s 50 day simple moving average is $527.04 and its 200 day simple moving average is $492.68. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two 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 Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping 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 firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the company earned $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts expect 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 firm 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 $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GS shares. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer raised their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 of the company’s stock, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the firm’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. The trade was a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is owned by 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.