The Goldman Sachs Group, Inc. (NYSE:GS) Position Cut by Diversified Portfolios Inc.

Diversified Portfolios Inc. lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 561 shares of the investment management company’s stock after selling 44 shares during the period. Diversified Portfolios Inc.’s holdings in The Goldman Sachs Group were worth $278,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the second quarter worth about $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. lifted its stake in shares of The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Finally, West Branch Capital LLC bought a new position in shares of The Goldman Sachs Group in the third quarter valued at approximately $30,000. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s 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 transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,390 shares of company stock valued at $6,656,119. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JMP Securities increased their price target on 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. Bank of America upped 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 report on Wednesday, October 16th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Barclays lifted their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $527.63.

The Goldman Sachs Group Trading Down 1.0 %

The Goldman Sachs Group stock opened at $588.46 on Friday. The stock has a market cap 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 company’s fifty day simple moving average is $513.80 and its 200-day simple moving average is $486.51. The Goldman Sachs Group, Inc. has a 12 month low of $334.55 and a 12 month high of $607.15. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.47 earnings per share. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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 paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 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.