The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Convergence Financial LLC

Convergence Financial LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 120.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,121 shares of the investment management company’s stock after buying an additional 1,157 shares during the quarter. Convergence Financial LLC’s holdings in The Goldman Sachs Group were worth $1,050,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new stake in The Goldman Sachs Group during the second quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in The Goldman Sachs Group during the second quarter worth about $27,000. SJS Investment Consulting Inc. lifted its position in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $512.60 on Friday. The stock has a market cap of $165.30 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a fifty day simple moving average of $500.37 and a 200-day simple moving average of $472.81. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $540.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that The Goldman Sachs Group, Inc. will post 35.52 EPS 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. Investors of record on Monday, December 2nd will be given a $3.00 dividend. 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 dividend payout ratio (DPR) is presently 46.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BMO Capital Markets increased 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. Citigroup boosted their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note 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. Finally, Oppenheimer boosted their price target on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

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.