Beese Fulmer Investment Management Inc. Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Beese Fulmer Investment Management Inc. lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,156 shares of the investment management company’s stock after selling 147 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in The Goldman Sachs Group were worth $12,455,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GS. AMF Tjanstepension AB grew its stake in shares of The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after purchasing an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of The Goldman Sachs Group by 878.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after purchasing an additional 356,512 shares during the last quarter. Swedbank AB purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $137,134,000. Finally, Jennison Associates LLC grew its stake in shares of The Goldman Sachs Group by 18.0% in the 1st quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock valued at $752,425,000 after purchasing an additional 274,509 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GS shares. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price target on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target 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. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $517.20 on Thursday. The stock has a fifty day moving average price of $499.70 and a 200 day moving average price of $471.74. The stock has a market cap of $166.78 billion, a PE ratio of 20.20, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the firm posted $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.