Convergence Investment Partners LLC Has $501,000 Holdings in The Goldman Sachs Group, Inc. $GS

Convergence Investment Partners LLC reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708 shares of the investment management company’s stock after selling 30 shares during the quarter. Convergence Investment Partners LLC’s holdings in The Goldman Sachs Group were worth $501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC raised its position in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the last quarter. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its position in The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after purchasing an additional 23 shares during the last quarter. Finally, Ridgewood Investments LLC raised its position in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at $86,463,679.48. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GS has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $750.00 target price (up previously from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday, October 21st. BNP Paribas Exane lifted their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Finally, Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $779.50.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $789.87 on Tuesday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The firm has a market capitalization of $239.11 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The firm has a fifty day moving average of $768.75 and a 200-day moving average of $683.40.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the previous year, the business earned $8.40 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group’s payout ratio is 32.50%.

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.