Infrastructure Capital Advisors LLC Lowers Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Infrastructure Capital Advisors LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 14.7% during the third quarter, Holdings Channel reports. The institutional investor owned 6,703 shares of the investment management company’s stock after selling 1,154 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $3,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth about $26,000. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the second quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group during the second quarter worth approximately $27,000. SJS Investment Consulting Inc. boosted its position in The Goldman Sachs Group by 103.3% during the second 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 in the last quarter. Finally, West Branch Capital LLC purchased a new position in The Goldman Sachs Group during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $605.43 on Friday. The stock has a market capitalization of $190.05 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52-week low of $334.87 and a 52-week high of $612.25. The stock’s 50-day moving average price is $538.72 and its 200 day moving average price is $498.08. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.47 EPS. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 annualized dividend and a yield of 1.98%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $569.00 to $608.00 in a research report on Tuesday. Wells Fargo & Company increased their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America increased 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $550.63.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the company’s 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. This represents a 25.94 % decrease in their position. The sale 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 company’s stock in a transaction 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 sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,390 shares of company stock worth $6,656,119. Insiders own 0.54% 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.