Hotchkis & Wiley Capital Management LLC Sells 413,708 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Hotchkis & Wiley Capital Management LLC cut its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 59.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,327 shares of the investment management company’s stock after selling 413,708 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in The Goldman Sachs Group were worth $138,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in GS. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the 2nd quarter valued at about $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. grew its position in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Finally, West Branch Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on 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. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays upped their target price on shares of 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $601.79 on Tuesday. The Goldman Sachs Group, Inc. has a 1 year low of $340.54 and a 1 year high of $612.73. The company’s 50 day simple moving average is $540.94 and its 200-day simple moving average is $499.68. 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 $188.91 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.88 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results 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 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 for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the company posted $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 35.21%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated 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 sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,390 shares of company stock worth $6,656,119. Insiders own 0.57% of the company’s stock.

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.