The Goldman Sachs Group, Inc. (NYSE:GS) Stake Lessened by Seelaus Asset Management LLC

Seelaus Asset Management LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 18.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 644 shares of the investment management company’s stock after selling 141 shares during the quarter. Seelaus Asset Management LLC’s holdings in The Goldman Sachs Group were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Kingsview Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 8.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,029 shares of the investment management company’s stock valued at $1,683,000 after acquiring an additional 330 shares during the last quarter. First Foundation Advisors increased its stake in The Goldman Sachs Group by 17.0% during the first quarter. First Foundation Advisors now owns 625 shares of the investment management company’s stock valued at $261,000 after purchasing an additional 91 shares during the last quarter. TIAA Trust National Association raised its holdings in shares of The Goldman Sachs Group by 504.6% during the first quarter. TIAA Trust National Association now owns 37,639 shares of the investment management company’s stock worth $15,721,000 after purchasing an additional 31,414 shares during the period. Acadian Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 407.2% in the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock worth $175,000 after buying an additional 338 shares during the last quarter. Finally, Patten & Patten Inc. TN boosted its holdings in shares of The Goldman Sachs Group by 9.2% in the 1st quarter. Patten & Patten Inc. TN now owns 3,864 shares of the investment management company’s stock valued at $1,614,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GS. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America increased their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Barclays upped their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, JMP Securities increased their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $535.75.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the sale, the executive vice president now directly owns 57,614 shares in the company, valued at $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 over the last three months. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Up 0.8 %

Shares of NYSE:GS opened at $593.51 on Friday. The stock has a market capitalization of $186.31 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.86 and a beta of 1.35. 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 company has a 50 day moving average price of $518.10 and a 200 day moving average price of $488.35. The Goldman Sachs Group, Inc. has a 1-year low of $334.55 and a 1-year high of $607.15.

The Goldman Sachs Group (NYSE:GS) last announced its 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 company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.47 earnings per share. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.