Harvey Investment Co. LLC Takes Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Harvey Investment Co. LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 420 shares of the investment management company’s stock, valued at approximately $208,000.

Several other institutional investors also recently bought and sold shares of the company. Waldron Private Wealth LLC raised its stake in shares of The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after acquiring an additional 20 shares during the period. First Pacific Financial boosted its stake in shares of The Goldman Sachs Group by 0.6% during the 3rd 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 period. Krane Funds Advisors LLC grew its holdings in The Goldman Sachs Group by 1.7% during the 3rd 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 during the last quarter. Tanager Wealth Management LLP raised its position in The Goldman Sachs Group by 3.6% in the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock worth $282,000 after purchasing an additional 20 shares during the period. Finally, M3 Advisory Group LLC lifted its stake in The Goldman Sachs Group by 3.9% in the third quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock worth $279,000 after purchasing an additional 21 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 0.5 %

The Goldman Sachs Group stock opened at $519.91 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The firm has a market cap of $167.65 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.77 and a beta of 1.36. The business has a fifty day moving average of $499.70 and a two-hundred day moving average of $471.74. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $540.51.

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 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 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 firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 earnings per share. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given 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 2.31%. The Goldman Sachs Group’s payout ratio is 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 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 completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America upped their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Barclays lifted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company 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.