The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Reduced by IVC Wealth Advisors LLC

by · The Markets Daily

IVC Wealth Advisors LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 522 shares of the investment management company’s stock after selling 70 shares during the quarter. IVC Wealth Advisors LLC’s holdings in The Goldman Sachs Group were worth $258,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc boosted its position in The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after purchasing an additional 68,141 shares in the last quarter. Jennison Associates LLC lifted 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 valued at $752,425,000 after buying an additional 274,509 shares during the last quarter. Capital Wealth Planning LLC grew its stake in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock valued at $498,472,000 after buying an additional 3,396 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in The Goldman Sachs Group by 34.8% in the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock worth $381,598,000 after buying an additional 217,954 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Down 2.3 %

NYSE GS opened at $512.60 on Monday. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $540.51. The company has a market capitalization of $161.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.75 and a beta of 1.36. The stock’s 50 day moving average is $500.37 and its two-hundred day moving average is $473.75. 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 (NYSE:GS – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.47 earnings per share. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on GS. JMP Securities boosted their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Barclays upped their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group boosted 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, BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

View Our Latest Stock Report on The Goldman Sachs Group

The Goldman Sachs Group Profile

(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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