Tower Wealth Partners Inc. Decreases Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Tower Wealth Partners Inc. reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,023 shares of the investment management company’s stock after selling 26 shares during the period. Tower Wealth Partners Inc.’s holdings in The Goldman Sachs Group were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. increased its stake in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, West Branch Capital LLC purchased a new stake in shares of The Goldman Sachs Group during the third quarter valued at $30,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 0.3 %

NYSE:GS opened at $519.35 on Friday. The firm has a 50 day moving average of $502.45 and a 200 day moving average of $477.05. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07. The Goldman Sachs Group, Inc. has a 52 week low of $308.00 and a 52 week high of $540.51. The stock has a market capitalization of $164.01 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.76 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. 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 posted $5.47 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend yield of 2.31%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s 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 transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GS. Barclays lifted their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group lifted 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 note on Tuesday, October 8th. Citigroup increased their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, Evercore ISI increased their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Company 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.