Groesbeck Investment Management Corp NJ Sells 501 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

by · The Cerbat Gem

Groesbeck Investment Management Corp NJ decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 14.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,971 shares of the investment management company’s stock after selling 501 shares during the period. The Goldman Sachs Group accounts for about 2.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 13th biggest position. Groesbeck Investment Management Corp NJ’s holdings in The Goldman Sachs Group were worth $1,471,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GS. AMF Tjanstepension AB increased its position in shares of The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares during the period. 1832 Asset Management L.P. lifted its stake in The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in The Goldman Sachs Group by 878.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after purchasing an additional 356,512 shares in the last quarter. Swedbank AB purchased a new position in The Goldman Sachs Group in the 1st quarter worth approximately $137,134,000. Finally, Jennison Associates LLC increased its holdings in shares of The Goldman Sachs Group by 18.0% during the 1st quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock worth $752,425,000 after buying an additional 274,509 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GS shares. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

Read Our Latest Stock Report on GS

The Goldman Sachs Group Stock Down 2.3 %

Shares of GS stock traded down $11.90 during trading on Friday, hitting $512.60. 1,633,203 shares of the company were exchanged, compared to its average volume of 1,831,431. 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 firm has a market capitalization of $161.88 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.75 and a beta of 1.36. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $540.51. The business’s 50-day simple moving average is $500.37 and its 200 day simple moving average is $472.81.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.47 EPS. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

Insider Activity

In other 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 of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.

Further Reading

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