Pzena Investment Management LLC lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 402,339 shares of the investment management company's stock after selling 36,942 shares during the period. Pzena Investment Management LLC owned approximately 0.13% of The Goldman Sachs Group worth $199,202,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC lifted its position in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company's stock valued at $3,713,325,000 after acquiring an additional 7,475,140 shares during the period. AMF Tjanstepension AB boosted its position in shares of The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company's stock worth $366,780,000 after purchasing an additional 743,402 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company's stock worth $200,959,000 after buying an additional 438,754 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company's stock valued at $179,608,000 after purchasing an additional 356,512 shares in the last quarter. Finally, Swedbank AB purchased a new stake in The Goldman Sachs Group during the first quarter valued at $137,134,000. Institutional investors own 71.21% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. JMP Securities upped their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price 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. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Oppenheimer boosted their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Finally, Bank of America upped their target price 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $535.75.
Read Our Latest Analysis on The Goldman Sachs Group
Insider Buying and Selling
In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the business's stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company's stock, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the business's stock in a transaction dated Thursday, October 17th. The shares were 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 owns 10,095 shares of the company's stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,390 shares of company stock worth $6,656,119. 0.57% of the stock is owned by insiders.
The Goldman Sachs Group Trading Up 0.1 %
The Goldman Sachs Group stock traded up $0.55 during trading hours on Wednesday, reaching $581.93. 1,523,962 shares of the company's stock were exchanged, compared to its average volume of 2,221,519. The firm has a market capitalization of $182.67 billion, a PE ratio of 17.08, a PEG ratio of 0.86 and a beta of 1.35. The firm's 50 day simple moving average is $524.58 and its 200 day simple moving average is $491.95. 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, Inc. has a twelve month low of $334.55 and a twelve 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 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 11.39%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the business earned $5.47 EPS. The Goldman Sachs Group's revenue was up 7.4% compared to the same quarter last year. Research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group's payout ratio is 35.21%.
About The Goldman Sachs Group
(
Free Report)
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.
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