The Goldman Sachs Group, Inc. (NYSE:GS) Stake Reduced by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 24.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,738 shares of the investment management company’s stock after selling 6,854 shares during the quarter. Intech Investment Management LLC’s holdings in The Goldman Sachs Group were worth $10,268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in The Goldman Sachs Group by 407.2% during the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after acquiring an additional 338 shares in the last quarter. Shell Asset Management Co. acquired a new stake in The Goldman Sachs Group in the first quarter worth about $377,000. EntryPoint Capital LLC bought a new position in The Goldman Sachs Group in the 1st quarter valued at about $101,000. Gamco Investors INC. ET AL increased its stake in The Goldman Sachs Group by 1.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 6,461 shares of the investment management company’s stock valued at $2,699,000 after buying an additional 100 shares during the period. Finally, Elkhorn Partners Limited Partnership bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $4,129,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Oppenheimer raised 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 note on Tuesday, November 5th. Morgan Stanley lifted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities upped their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Evercore ISI lifted their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Five equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $542.00.

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on 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 of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 2.6 %

The Goldman Sachs Group stock opened at $597.01 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $607.15. 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 firm has a market capitalization of $187.41 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 0.84 and a beta of 1.35. The company has a 50 day moving average price of $527.04 and a 200 day moving average price of $492.68.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. During the same quarter last year, the firm posted $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. Research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 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.