King Luther Capital Management Corp Sells 527 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

King Luther Capital Management Corp cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,494 shares of the investment management company’s stock after selling 527 shares during the quarter. King Luther Capital Management Corp’s holdings in The Goldman Sachs Group were worth $3,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Procyon Advisors LLC increased its position in 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 valued at $411,000 after acquiring an additional 43 shares during the period. Brookstone Capital Management increased its holdings in The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares during the period. Granite Bay Wealth Management LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth $5,529,000. Wedge Capital Management L L P NC lifted its holdings in The Goldman Sachs Group by 3.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after buying an additional 2,993 shares during the period. Finally, PGGM Investments grew its position in shares of The Goldman Sachs Group by 341.8% in the 1st quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock valued at $4,815,000 after buying an additional 8,918 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were 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 owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $602.75 on Friday. The company has a market cap of $189.21 billion, a P/E ratio of 17.69, a PEG ratio of 0.84 and a beta of 1.35. The company has a fifty day simple moving average of $529.52 and a 200 day simple moving average of $493.78. 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 Goldman Sachs Group, Inc. has a 12-month low of $334.87 and a 12-month high of $607.15.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $5.47 earnings per share. Sell-side analysts predict 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 business also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GS shares. Barclays raised their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JMP Securities increased their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Morgan Stanley lifted 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, UBS Group upped their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average price target of $542.00.

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.