Sky Investment Group LLC Has $500,000 Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

by · The Markets Daily

Sky Investment Group LLC trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,010 shares of the investment management company’s stock after selling 30 shares during the period. Sky Investment Group LLC’s holdings in The Goldman Sachs Group were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $66,000. CHICAGO TRUST Co NA acquired a new stake in The Goldman Sachs Group during the 1st quarter worth about $211,000. Mcdonald Partners LLC increased its holdings in The Goldman Sachs Group by 11.3% in the first quarter. Mcdonald Partners LLC now owns 3,692 shares of the investment management company’s stock worth $1,542,000 after purchasing an additional 376 shares in the last quarter. CFM Wealth Partners LLC lifted its position in shares of The Goldman Sachs Group by 4.5% during the 1st quarter. CFM Wealth Partners LLC now owns 1,810 shares of the investment management company’s stock valued at $756,000 after acquiring an additional 78 shares during the period. Finally, RMR Wealth Builders raised its holdings in shares of The Goldman Sachs Group by 18.9% during the first quarter. RMR Wealth Builders now owns 3,069 shares of the investment management company’s stock valued at $1,282,000 after purchasing an additional 487 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on 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 sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Oppenheimer increased their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America boosted their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

Get Our Latest Research Report on The Goldman Sachs Group

The Goldman Sachs Group Price Performance

GS stock traded up $0.90 during midday trading on Tuesday, reaching $518.70. The stock had a trading volume of 355,278 shares, compared to its average volume of 2,207,883. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $540.51. The company has a market cap of $167.26 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The company’s fifty day simple moving average is $498.80 and its 200 day simple moving average is $470.64.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $5.47 EPS. As a group, sell-side analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.31%. The Goldman Sachs Group’s payout ratio is 46.86%.

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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