Investment Management Corp of Ontario Has $5.33 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Investment Management Corp of Ontario lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 48.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,770 shares of the investment management company’s stock after purchasing an additional 3,500 shares during the quarter. Investment Management Corp of Ontario’s holdings in The Goldman Sachs Group were worth $5,332,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GS. Waddell & Associates LLC grew its position in The Goldman Sachs Group by 2.1% during the third quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after buying an additional 18 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its position in shares of The Goldman Sachs Group by 0.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock valued at $1,346,000 after acquiring an additional 18 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in shares of The Goldman Sachs Group by 0.8% during 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 increased 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 worth $1,568,000 after purchasing an additional 20 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its stake in The Goldman Sachs Group by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Evercore ISI boosted their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Bank of America boosted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $557.88.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $601.94 on Wednesday. The company’s fifty day moving average price is $545.10 and its 200-day moving average price is $501.59. The stock has a market cap of $188.95 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12 month low of $340.54 and a 12 month high of $612.73.

The Goldman Sachs Group (NYSE:GS) last released its 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 firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $5.47 earnings per share. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal 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 paid a dividend of $3.00 per share. 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%.

Insiders Place Their Bets

In other news, 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 transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,940 shares of company stock valued at $13,717,979. Insiders own 0.57% of the company’s stock.

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.