Covestor Ltd Has $52,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Covestor Ltd trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 37.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104 shares of the investment management company’s stock after selling 63 shares during the quarter. Covestor Ltd’s holdings in The Goldman Sachs Group were worth $52,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its holdings in The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after purchasing an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after buying an additional 356,512 shares during the period. Swedbank AB bought a new position in The Goldman Sachs Group during the first quarter worth $137,134,000. Finally, Third Point LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at $104,422,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Bank of America boosted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $527.63.

The Goldman Sachs Group Stock Down 1.0 %

The Goldman Sachs Group stock opened at $588.46 on Friday. 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 stock has a market cap of $184.72 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.55 and a fifty-two week high of $607.15. The firm’s 50-day simple moving average is $513.80 and its 200 day simple moving average is $486.51.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping 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 analyst estimates of $11.77 billion. During the same period last year, the company posted $5.47 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on 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 owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Company 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.