abrdn plc Has $174.20 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

abrdn plc grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 352,220 shares of the investment management company's stock after buying an additional 5,835 shares during the period. abrdn plc owned 0.11% of The Goldman Sachs Group worth $174,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Procyon Advisors LLC grew its position in The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company's stock valued at $411,000 after buying an additional 43 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company's stock valued at $2,268,000 after acquiring an additional 761 shares in the last quarter. Empowered Funds LLC increased its stake in shares of The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company's stock valued at $2,632,000 after acquiring an additional 2,428 shares during the period. Duality Advisers LP bought a new stake in The Goldman Sachs Group during the first quarter worth approximately $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company's stock worth $3,448,000 after purchasing an additional 2,103 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Bank of America boosted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. JMP Securities upped their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted 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 report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $524.69.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated 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 directly owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company's stock.

The Goldman Sachs Group Stock Up 0.1 %

Shares of GS stock traded up $0.70 during trading on Tuesday, hitting $524.28. 1,247,477 shares of the company were exchanged, compared to its average volume of 2,198,708. The business's 50-day simple moving average is $500.76 and its 200 day simple moving average is $474.64. The Goldman Sachs Group, Inc. has a twelve month low of $293.29 and a twelve month high of $540.51. The firm has a market capitalization of $165.57 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 0.75 and a beta of 1.36. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid 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 2.29%. The Goldman Sachs Group's dividend payout ratio (DPR) 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.