Concentric Wealth Management LLC Sells 209 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Concentric Wealth Management LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,479 shares of the investment management company’s stock after selling 209 shares during the period. Concentric Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $3,703,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Waddell & Associates LLC lifted its position in shares of The Goldman Sachs Group by 2.1% during the 3rd quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock valued at $444,000 after buying an additional 18 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its position in The Goldman Sachs Group by 0.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock worth $1,346,000 after purchasing an additional 18 shares during the period. Waldron Private Wealth LLC increased its stake in shares of The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after purchasing an additional 20 shares in the last quarter. First Pacific Financial raised its position in shares of The Goldman Sachs Group by 0.6% in the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after purchasing an additional 20 shares during the period. Finally, Krane Funds Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 1.7% during the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after buying an additional 20 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $602.78 on Monday. The Goldman Sachs Group, Inc. has a twelve month low of $334.87 and a twelve month high of $607.15. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm’s fifty day simple moving average is $529.52 and its 200 day simple moving average is $494.47. The stock has a market cap of $189.22 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results 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 Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company 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 business posted $5.47 EPS. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. Bank of America boosted their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price objective on shares of 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. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock 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 issued a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

Insider Activity

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on 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 directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock valued at $6,656,119 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

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.