Scott & Selber Inc. Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Scott & Selber Inc. trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 6,840 shares of the investment management company’s stock after selling 29 shares during the quarter. The Goldman Sachs Group accounts for 1.1% of Scott & Selber Inc.’s investment portfolio, making the stock its 29th largest holding. Scott & Selber Inc.’s holdings in The Goldman Sachs Group were worth $3,387,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Procyon Advisors LLC increased its position in shares of The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares during the last quarter. Brookstone Capital Management raised its stake in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares in the last quarter. Empowered Funds LLC lifted its holdings in The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after buying an additional 2,428 shares during the last quarter. Duality Advisers LP acquired a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,388,000. Finally, Axxcess Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 25.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after acquiring an additional 2,442 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group 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 value of $1,061,800.00. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock worth $6,656,119 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GS. BMO Capital Markets lifted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. UBS Group raised their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed 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. Barclays raised their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Oppenheimer upped their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $527.63.

The Goldman Sachs Group Price Performance

Shares of GS opened at $589.35 on Friday. The Goldman Sachs Group, Inc. has a one year low of $319.66 and a one year high of $598.60. The stock’s fifty day moving average is $507.79 and its 200-day moving average is $482.47. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.72 and a current ratio of 0.67. The firm has a market capitalization of $185.00 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the company earned $5.47 EPS. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

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 issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.04%. The Goldman Sachs Group’s payout ratio is 35.21%.

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.