Zions Bancorporation N.A. Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Zions Bancorporation N.A. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 12.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 257 shares of the investment management company’s stock after selling 35 shares during the period. Zions Bancorporation N.A.’s holdings in The Goldman Sachs Group were worth $127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at $26,000. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in The Goldman Sachs Group during the second quarter valued at $27,000. SJS Investment Consulting Inc. grew its position in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Finally, Quest Partners LLC raised its stake in shares of The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after buying an additional 63 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock worth $6,656,119. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GS shares. Barclays lifted 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. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. 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 note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer lifted their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $535.75.

The Goldman Sachs Group Trading Up 0.8 %

NYSE GS opened at $593.51 on Friday. The firm’s fifty day moving average is $515.82 and its two-hundred day moving average is $487.22. The Goldman Sachs Group, Inc. has a one year low of $334.55 and a one year high of $607.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $186.31 billion, a PE ratio of 17.42, a P/E/G ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the firm posted $5.47 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 2.02%. The Goldman Sachs Group’s payout ratio is currently 35.21%.

About The Goldman Sachs Group

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.