Western Financial Corp CA Invests $1.34 Million in The Goldman Sachs Group, Inc. (NYSE:GS)

Western Financial Corp CA bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, Holdings Channel.com reports. The institutional investor bought 2,712 shares of the investment management company’s stock, valued at approximately $1,343,000.

Other institutional investors have also added to or reduced their stakes in the company. Procyon Advisors LLC increased its position in shares of The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after acquiring an additional 43 shares in the last quarter. Brookstone Capital Management lifted its position in shares of The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares in the last quarter. Empowered Funds LLC grew its position in The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares in the last quarter. Duality Advisers LP purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at about $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in The Goldman Sachs Group by 34.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after acquiring an additional 2,103 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

NYSE:GS traded down $10.75 during mid-day trading on Monday, hitting $517.75. 1,001,826 shares of the stock traded hands, compared to its average volume of 2,213,320. The business’s 50-day moving average price is $498.15 and its 200 day moving average price is $469.85. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The company has a market cap of $166.96 billion, a PE ratio of 20.29, a price-to-earnings-growth 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) last released 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 net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the business earned $5.47 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the firm’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 sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents 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 the SEC website. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GS shares. Oppenheimer increased their price target on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup raised their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JMP Securities increased their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Company Profile

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.