Private Advisor Group LLC Sells 6,720 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Private Advisor Group LLC reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 23.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,351 shares of the investment management company’s stock after selling 6,720 shares during the period. Private Advisor Group LLC’s holdings in The Goldman Sachs Group were worth $10,571,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Procyon Advisors LLC grew its stake in shares of The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after acquiring an additional 43 shares during the period. Brookstone Capital Management lifted its holdings in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares in the last quarter. Empowered Funds LLC boosted its position in shares of The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares during the period. Duality Advisers LP purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of The Goldman Sachs Group by 34.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after purchasing an additional 2,103 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of the firm’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 completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GS shares. BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. UBS Group increased their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, JMP Securities boosted their target price 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Trading Up 1.4 %

Shares of GS stock opened at $524.50 on Friday. The company has a market cap of $169.13 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $499.70 and its two-hundred day simple moving average is $471.74. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the firm posted $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts predict that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

The Goldman Sachs Group 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.