Sterling Investment Management LLC Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

by · The Markets Daily

Sterling Investment Management LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,318 shares of the investment management company’s stock after selling 264 shares during the quarter. The Goldman Sachs Group makes up about 1.6% of Sterling Investment Management LLC’s holdings, making the stock its 24th biggest position. Sterling Investment Management LLC’s holdings in The Goldman Sachs Group were worth $2,138,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GS. AMF Tjanstepension AB raised its holdings in 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 last quarter. 1832 Asset Management L.P. grew its position 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 valued at $200,959,000 after purchasing an additional 438,754 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in The Goldman Sachs Group by 878.8% in 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 during the last quarter. Swedbank AB purchased a new position in The Goldman Sachs Group during the first quarter worth about $137,134,000. Finally, Jennison Associates LLC boosted its stake in The Goldman Sachs Group by 18.0% in 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.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $528.50 on Monday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $498.15 and its two-hundred day moving average price is $469.85. The firm has a market capitalization of $170.42 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $540.51.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the business posted $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Analyst Ratings Changes

A number of research firms have recently commented on GS. JMP Securities upped their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Bank of America increased their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Barclays upped their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

Check Out Our Latest Stock Report on The Goldman Sachs Group

Insider Buying and Selling at The Goldman Sachs Group

In other news, 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 value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

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.

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