Hennion & Walsh Asset Management Inc. Sells 732 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Hennion & Walsh Asset Management Inc. lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 16.4% during the third quarter, Holdings Channel reports. The firm owned 3,727 shares of the investment management company’s stock after selling 732 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $1,845,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Romano Brothers AND Company raised its position in The Goldman Sachs Group by 7.7% in the 3rd quarter. Romano Brothers AND Company now owns 1,050 shares of the investment management company’s stock valued at $520,000 after buying an additional 75 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in shares of The Goldman Sachs Group by 6.7% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,496 shares of the investment management company’s stock worth $741,000 after acquiring an additional 94 shares in the last quarter. Tanager Wealth Management LLP raised its holdings in shares of The Goldman Sachs Group by 3.6% in the third quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 20 shares during the last quarter. Axecap Investments LLC bought a new position in shares of The Goldman Sachs Group during the third quarter valued at about $3,078,000. Finally, McAdam LLC purchased a new position in The Goldman Sachs Group during the third quarter worth about $210,000. 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 $512.60 on Friday. The firm’s 50 day moving average is $500.21 and its 200 day moving average is $472.10. The stock has a market capitalization of $165.30 billion, a P/E ratio of 20.02, a PEG ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $540.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last posted 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 firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.47 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business 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 $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.34%. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the 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 sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GS shares. Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

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.