Intech Investment Management LLC Sells 6,854 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Intech Investment Management LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 24.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,738 shares of the investment management company's stock after selling 6,854 shares during the quarter. Intech Investment Management LLC's holdings in The Goldman Sachs Group were worth $10,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Waldron Private Wealth LLC grew its holdings in The Goldman Sachs Group by 0.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company's stock valued at $1,085,000 after buying an additional 20 shares during the last quarter. First Pacific Financial grew its holdings in The Goldman Sachs Group by 0.6% in the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company's stock valued at $1,568,000 after buying an additional 20 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in The Goldman Sachs Group by 1.7% in the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company's stock valued at $583,000 after buying an additional 20 shares during the last quarter. Tanager Wealth Management LLP grew its holdings in The Goldman Sachs Group by 3.6% in the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company's stock valued at $282,000 after buying an additional 20 shares during the last quarter. Finally, M3 Advisory Group LLC grew its holdings in The Goldman Sachs Group by 3.9% in the 3rd quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company's stock valued at $279,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Up 1.1 %

Shares of NYSE GS traded up $6.64 during midday trading on Friday, hitting $602.75. The stock had a trading volume of 1,733,736 shares, compared to its average volume of 2,219,638. The company's 50-day simple moving average is $527.04 and its 200 day simple moving average is $492.68. The firm has a market cap of $189.21 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two week high of $607.15. 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 - Get Free Report) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $5.47 EPS. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid 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 1.99%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.21%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup raised their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a "neutral" rating in a research report on Thursday. Wolfe Research upgraded The Goldman Sachs Group to a "hold" rating in a research report on Wednesday, September 18th. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. UBS Group raised their price objective 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. Finally, Barclays raised their price objective on 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $542.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction 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. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock valued at $6,656,119 over the last three months. Company 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.