Oppenheimer & Co. Inc. Decreases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Oppenheimer & Co. Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.9% during the third quarter, Holdings Channel.com reports. The fund owned 65,428 shares of the investment management company’s stock after selling 1,237 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in The Goldman Sachs Group were worth $32,394,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TBH Global Asset Management LLC increased its position in shares of The Goldman Sachs Group by 8.5% during the first quarter. TBH Global Asset Management LLC now owns 3,156 shares of the investment management company’s stock valued at $1,318,000 after buying an additional 248 shares during the period. Delta Investment Management LLC purchased a new position in shares of The Goldman Sachs Group during the first quarter valued at about $268,000. Kingsview Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 8.9% during the first quarter. Kingsview Wealth Management LLC now owns 4,029 shares of the investment management company’s stock valued at $1,683,000 after buying an additional 330 shares during the period. Midwest Professional Planners LTD. boosted its stake in The Goldman Sachs Group by 35.0% during the first quarter. Midwest Professional Planners LTD. now owns 3,953 shares of the investment management company’s stock worth $1,651,000 after acquiring an additional 1,024 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its stake in The Goldman Sachs Group by 166.2% during the first quarter. Picton Mahoney Asset Management now owns 49,461 shares of the investment management company’s stock worth $20,659,000 after acquiring an additional 30,883 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded up $5.88 during midday trading on Wednesday, reaching $598.47. The stock had a trading volume of 153,057 shares, compared to its average volume of 2,222,499. The stock has a 50-day moving average of $511.74 and a 200-day moving average of $485.75. 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 company has a market capitalization of $187.87 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $332.47 and a 12-month high of $607.15.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the business earned $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 annualized dividend and a yield of 2.01%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Wall Street Analysts Forecast Growth

GS has been the topic of several research reports. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. BMO Capital Markets upped their target price on shares of 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. Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer increased their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Five research 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 Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price of $527.63.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s 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 completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian J. Lee sold 2,000 shares of the firm’s 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 transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 directly owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock worth $6,656,119 over the last 90 days. 0.57% of the stock is owned by insiders.

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.