Freedom Day Solutions LLC Sells 59 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Freedom Day Solutions LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,299 shares of the investment management company’s stock after selling 59 shares during the quarter. Freedom Day Solutions LLC’s holdings in The Goldman Sachs Group were worth $1,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Procyon Advisors LLC lifted its holdings in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after buying an additional 43 shares during the period. Brookstone Capital Management lifted its stake in shares of The Goldman Sachs Group by 19.9% in the 3rd 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 during the period. Empowered Funds LLC boosted its position in shares of The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after purchasing an additional 2,428 shares in the last quarter. Duality Advisers LP bought a new stake in shares of The Goldman Sachs Group during the first quarter valued at approximately $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in The Goldman Sachs Group by 34.2% in 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 purchasing an additional 2,103 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $524.50 on Friday. The firm’s 50-day moving average price is $499.70 and its 200-day moving average price is $471.74. 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 $169.13 billion, a PE ratio of 20.48, a PEG ratio of 0.77 and a beta of 1.36. 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 Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the company posted $5.47 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 EPS 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. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GS. UBS Group boosted their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. BMO Capital Markets raised 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 note on Wednesday, July 17th. Bank of America boosted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $524.69.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. 0.54% of the stock is owned by company 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.