Empowered Funds LLC Boosts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Empowered Funds LLC raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 125.1% in the third quarter, Holdings Channel reports. The institutional investor owned 17,957 shares of the investment management company’s stock after acquiring an additional 9,980 shares during the period. Empowered Funds LLC’s holdings in The Goldman Sachs Group were worth $8,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Waldron Private Wealth LLC lifted its holdings in 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 increased its holdings 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 valued at $1,568,000 after purchasing an additional 20 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 1.7% in 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 period. Tanager Wealth Management LLP boosted its holdings in The Goldman Sachs Group by 3.6% during the third quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock worth $282,000 after buying an additional 20 shares in the last quarter. Finally, M3 Advisory Group LLC grew its position in The Goldman Sachs Group by 3.9% during the third quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock valued at $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 analysts have weighed in on GS shares. Keefe, Bruyette & Woods upped their price objective on shares of 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. Oppenheimer upped their price target on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays upped their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, JMP Securities lifted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $535.75.

The Goldman Sachs Group Stock Up 0.8 %

GS stock opened at $593.51 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average of $518.10 and a two-hundred day moving average of $488.35. The Goldman Sachs Group, Inc. has a 12 month low of $334.55 and a 12 month high of $607.15. The company has a market cap of $186.31 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.86 and a beta of 1.35.

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 (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the business earned $5.47 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed 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. This represents a $12.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

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.