Palisades Hudson Asset Management L.P. Has $758,000 Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Palisades Hudson Asset Management L.P. cut its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,531 shares of the investment management company’s stock after selling 69 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in The Goldman Sachs Group were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of GS. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. grew its position in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC increased its stake in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 63 shares during the period. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GS. Citigroup raised their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Evercore ISI increased their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JMP Securities boosted their target price 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. Finally, Oppenheimer increased their target price on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Down 0.7 %

GS stock traded down $3.51 during mid-day trading on Monday, hitting $515.84. 236,813 shares of the company were exchanged, compared to its average volume of 2,182,581. The firm has a market cap of $162.90 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.75 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1-year low of $319.66 and a 1-year high of $540.51. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11. The firm’s 50 day simple moving average is $502.45 and its 200 day simple moving average is $478.13.

The Goldman Sachs Group (NYSE:GS) last announced its 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 net margin of 9.89% and a return on equity of 11.05%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the company posted $5.47 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.14 EPS 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group 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 completion of the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group 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.