Balboa Wealth Partners Boosts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Balboa Wealth Partners grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 22.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,624 shares of the investment management company’s stock after buying an additional 293 shares during the quarter. Balboa Wealth Partners’ holdings in The Goldman Sachs Group were worth $804,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 8.9% in the first quarter. Kingsview Wealth Management LLC now owns 4,029 shares of the investment management company’s stock worth $1,683,000 after purchasing an additional 330 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of The Goldman Sachs Group by 3.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 11,025 shares of the investment management company’s stock valued at $4,605,000 after buying an additional 346 shares during the period. Forum Financial Management LP raised its stake in The Goldman Sachs Group by 1.5% during the first quarter. Forum Financial Management LP now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after acquiring an additional 55 shares during the period. GM Advisory Group LLC bought a new position in The Goldman Sachs Group in the first quarter worth about $203,000. Finally, Tocqueville Asset Management L.P. boosted its stake in The Goldman Sachs Group by 26.7% in the first quarter. Tocqueville Asset Management L.P. now owns 17,379 shares of the investment management company’s stock valued at $7,259,000 after acquiring an additional 3,663 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price target 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. Barclays raised their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JMP Securities boosted their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Finally, Bank of America raised their price target on shares of 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. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $527.63.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $588.46 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $334.55 and a 12-month high of $607.15. The stock has a market capitalization of $184.72 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.86 and a beta of 1.35. The firm’s 50 day moving average is $513.80 and its 200-day moving average is $486.51. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $5.47 EPS. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company 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 dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

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.