MONECO Advisors LLC Has $459,000 Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

MONECO Advisors LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 80.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 928 shares of the investment management company’s stock after selling 3,928 shares during the quarter. MONECO Advisors LLC’s holdings in The Goldman Sachs Group were worth $459,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GS. SC&H Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the third quarter valued at approximately $213,000. Wells Trecaso Financial Group LLC boosted its position in shares of The Goldman Sachs Group by 0.3% during the third quarter. Wells Trecaso Financial Group LLC now owns 21,456 shares of the investment management company’s stock worth $10,623,000 after purchasing an additional 61 shares in the last quarter. Traynor Capital Management Inc. boosted its position in shares of The Goldman Sachs Group by 92.3% during the third quarter. Traynor Capital Management Inc. now owns 702 shares of the investment management company’s stock worth $347,000 after purchasing an additional 337 shares in the last quarter. abrdn plc increased its position in shares of The Goldman Sachs Group by 1.7% in the 3rd quarter. abrdn plc now owns 352,220 shares of the investment management company’s stock valued at $174,203,000 after buying an additional 5,835 shares in the last quarter. Finally, Hunter Associates Investment Management LLC bought a new position in The Goldman Sachs Group during the third quarter worth about $218,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GS. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Bank of America increased their target price on 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. BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Price Performance

Shares of GS opened at $524.50 on Wednesday. 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 company’s fifty day simple moving average is $501.30 and its 200 day simple moving average is $475.59. The Goldman Sachs Group, Inc. has a 1-year low of $293.29 and a 1-year high of $540.51. The company has a market cap of $165.64 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.75 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share 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 for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the business earned $5.47 EPS. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

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.