Lmcg Investments LLC Cuts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Lmcg Investments LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,532 shares of the investment management company's stock after selling 1,119 shares during the quarter. The Goldman Sachs Group accounts for 1.4% of Lmcg Investments LLC's holdings, making the stock its 12th biggest holding. Lmcg Investments LLC's holdings in The Goldman Sachs Group were worth $24,029,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GS. Procyon Advisors LLC boosted its stake in The Goldman Sachs Group by 5.5% in the third 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 stake in 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 buying an additional 761 shares in the last quarter. Empowered Funds LLC boosted its stake in The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company's stock valued at $2,632,000 after buying an additional 2,428 shares in the last quarter. Duality Advisers LP acquired a new stake in The Goldman Sachs Group in the first quarter valued at about $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake 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 valued at $3,448,000 after buying an additional 2,103 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GS. Keefe, Bruyette & Woods raised their price objective 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. Citigroup lifted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a "neutral" rating in a research note on Tuesday, July 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. JMP Securities lifted 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $524.69.

The Goldman Sachs Group Trading Up 0.3 %

GS stock traded up $1.56 during mid-day trading on Friday, reaching $519.35. The company's stock had a trading volume of 1,625,284 shares, compared to its average volume of 2,191,625. The company has a market cap of $164.01 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The business's 50 day moving average price is $502.45 and its 200 day moving average price is $477.61. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The Goldman Sachs Group, Inc. has a 12 month low of $308.00 and a 12 month high of $540.51.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts' consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $11.77 billion. During the same quarter last year, the firm posted $5.47 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.31%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 10,095 shares of the company's stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

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.