Primecap Management Co. CA Reduces Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Primecap Management Co. CA reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 254,650 shares of the investment management company's stock after selling 6,500 shares during the quarter. Primecap Management Co. CA owned about 0.08% of The Goldman Sachs Group worth $126,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GS. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. grew its position in The Goldman Sachs Group by 103.3% during 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 last quarter. Finally, Quest Partners LLC increased its holdings in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the company's stock in a transaction dated 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 sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F.W. Rogers sold 6,416 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock valued at $6,656,119 over the last ninety days. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Up 1.1 %

NYSE GS traded up $6.64 on Friday, hitting $602.75. 1,733,736 shares of the company were exchanged, compared to its average volume of 2,219,638. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market cap of $189.21 billion, a PE ratio of 17.70, a PEG ratio of 0.84 and a beta of 1.35. The stock has a fifty day moving average of $527.04 and a 200-day moving average of $492.68. The Goldman Sachs Group, Inc. has a 12 month low of $334.87 and a 12 month high of $607.15.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping 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 11.39%. The company had revenue of $12.70 billion for the quarter, compared to analysts' expectations of $11.77 billion. During the same quarter in the prior year, the firm earned $5.47 EPS. The business's revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group's payout ratio is 35.21%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GS. Keefe, Bruyette & Woods lifted their price target 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. Oppenheimer lifted their target price on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Barclays raised their price target on shares of 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. JPMorgan Chase & Co. boosted their price objective 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. Finally, Bank of America increased their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a "buy" rating in a 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 stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Moderate Buy" and an average target price of $542.00.

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.