Insider Selling: The Goldman Sachs Group, Inc. (NYSE:GS) CAO Sells 2,974 Shares of Stock

The Goldman Sachs Group, Inc. (NYSE:GS) CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction 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 completion of the sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The Goldman Sachs Group Trading Up 1.2 %

NYSE:GS opened at $589.26 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $319.66 and a 52 week high of $598.60. The stock has a market cap of $184.97 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.87 and a beta of 1.35. The company’s 50 day moving average price is $507.79 and its 200-day moving average price is $482.47. The company has a quick ratio of 0.72, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its 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 business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 EPS. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal 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 dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently made changes to their positions in the stock. Norden Group LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at $220,000. Advisory Services Network LLC increased its position in The Goldman Sachs Group by 10.8% during the first quarter. Advisory Services Network LLC now owns 9,879 shares of the investment management company’s stock valued at $4,126,000 after acquiring an additional 964 shares during the last quarter. Duality Advisers LP bought a new position in The Goldman Sachs Group in the first quarter valued at about $1,388,000. Envestnet Portfolio Solutions Inc. boosted its position in The Goldman Sachs Group by 21.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,075 shares of the investment management company’s stock worth $5,044,000 after purchasing an additional 2,139 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of 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 valued at $2,632,000 after purchasing an additional 2,428 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of research reports. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $527.63.

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.