Sawgrass Asset Management LLC Trims Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Sawgrass Asset Management LLC decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,331 shares of the investment management company’s stock after selling 65 shares during the quarter. Sawgrass Asset Management LLC’s holdings in The Goldman Sachs Group were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. First Foundation Advisors increased its stake in shares of The Goldman Sachs Group by 17.0% in the first quarter. First Foundation Advisors now owns 625 shares of the investment management company’s stock worth $261,000 after purchasing an additional 91 shares in the last quarter. Acadian Asset Management LLC raised its stake in The Goldman Sachs Group by 407.2% during the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after purchasing an additional 338 shares during the period. Patten & Patten Inc. TN lifted its holdings in The Goldman Sachs Group by 9.2% in the 1st quarter. Patten & Patten Inc. TN now owns 3,864 shares of the investment management company’s stock worth $1,614,000 after purchasing an additional 324 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares during the period. Finally, Beaumont Financial Advisors LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at approximately $301,000. 71.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 over the last quarter. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of 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. Barclays raised their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, JMP Securities raised their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $535.75.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $593.54 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $334.55 and a 12-month high of $607.15. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average price of $518.10 and a 200-day moving average price of $488.78. The firm has a market capitalization of $186.32 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

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, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.47 earnings per share. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current 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 given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 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.