Prestige Wealth Management Group LLC Sells 837 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Prestige Wealth Management Group LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 33.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,641 shares of the investment management company’s stock after selling 837 shares during the period. Prestige Wealth Management Group LLC’s holdings in The Goldman Sachs Group were worth $813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Procyon Advisors LLC increased its position 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 in the last quarter. Brookstone Capital Management increased its holdings in 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 worth $2,268,000 after acquiring an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $5,529,000. Wedge Capital Management L L P NC boosted its position in shares of The Goldman Sachs Group by 3.1% in the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after purchasing an additional 2,993 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of The Goldman Sachs Group by 24.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,987 shares of the investment management company’s stock worth $6,779,000 after purchasing an additional 2,912 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were 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 in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the sale, the director now owns 608,425 shares of the company’s stock, valued at $372,404,774. The trade was a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock worth $13,717,979 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Oppenheimer boosted their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. 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 report on Wednesday, October 16th. Finally, Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” 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’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average price target of $559.75.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $594.12 on Tuesday. The company’s 50-day moving average price is $553.26 and its 200-day moving average price is $505.37. 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 company has a market cap of $186.50 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. The Goldman Sachs Group, Inc. has a twelve month low of $349.05 and a twelve month high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the business posted $5.47 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast 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 $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.02%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

About The Goldman Sachs Group

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.