Cary Street Partners Asset Management LLC Has $2.67 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Cary Street Partners Asset Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,390 shares of the investment management company’s stock after selling 120 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in The Goldman Sachs Group were worth $2,668,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GS. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at $26,000. Semmax Financial Advisors Inc. acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at about $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $27,000. SJS Investment Consulting Inc. lifted its position in shares of The Goldman Sachs Group by 103.3% during 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 in the last quarter. Finally, Quest Partners LLC grew its stake in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted 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. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price of $524.69.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group 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 owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

GS stock opened at $511.47 on Tuesday. The Goldman Sachs Group, Inc. has a 1-year low of $319.66 and a 1-year high of $540.51. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The firm has a market cap of $161.52 billion, a PE ratio of 15.01, a P/E/G ratio of 0.75 and a beta of 1.35. The business’s 50-day moving average price is $502.52 and its two-hundred day moving average price is $478.89.

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 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 business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the business posted $5.47 EPS. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.