Legacy Capital Group California Inc. Has $320,000 Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Legacy Capital Group California Inc. reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 646 shares of the investment management company’s stock after selling 31 shares during the period. Legacy Capital Group California Inc.’s holdings in The Goldman Sachs Group were worth $320,000 at the end of the most recent quarter.

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

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $512.60 on Friday. The stock has a market capitalization of $165.30 billion, a PE ratio of 20.02, a PEG ratio of 0.77 and a beta of 1.36. The business’s 50 day simple moving average is $500.21 and its 200 day simple moving average is $472.10. 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 Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $540.51.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the company earned $5.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.34%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GS shares. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of 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. BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $524.69.

Insider Transactions at The Goldman Sachs Group

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 owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

About The Goldman Sachs Group

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.