The Goldman Sachs Group, Inc. (NYSE:GS) Stake Decreased by Laffer Tengler Investments Inc.

by · The Markets Daily

Laffer Tengler Investments Inc. lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,223 shares of the investment management company’s stock after selling 1,230 shares during the quarter. The Goldman Sachs Group makes up 2.3% of Laffer Tengler Investments Inc.’s holdings, making the stock its 7th largest holding. Laffer Tengler Investments Inc.’s holdings in The Goldman Sachs Group were worth $11,498,000 as of its most recent SEC filing.

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

The Goldman Sachs Group Trading Up 2.9 %

Shares of NYSE GS traded up $17.38 during trading on Monday, hitting $606.64. 563,662 shares of the company traded hands, compared to its average volume of 2,222,278. The firm has a market capitalization of $190.43 billion, a P/E ratio of 17.29, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a 50-day moving average price of $507.79 and a 200-day moving average price of $483.30. The Goldman Sachs Group, Inc. has a 1 year low of $323.53 and a 1 year high of $607.15.

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 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the firm posted $5.47 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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 given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Analyst Upgrades and Downgrades

GS has been the subject of a number of recent analyst reports. JMP Securities lifted their price target on 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. Barclays upped their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised 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 report on Wednesday, October 16th. Oppenheimer increased their target price on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $527.63.

Read Our Latest Stock Report on GS

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction 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 directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Company 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.

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