ABLE Financial Group LLC Sells 199 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

ABLE Financial Group LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 25.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 585 shares of the investment management company’s stock after selling 199 shares during the quarter. ABLE Financial Group LLC’s holdings in The Goldman Sachs Group were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Procyon Advisors LLC boosted its stake 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 worth $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management lifted its stake in The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares during the period. Empowered Funds LLC boosted its holdings in shares of The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after acquiring an additional 2,428 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,388,000. Finally, Axxcess Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after purchasing an additional 2,442 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 1.6 %

GS stock traded up $9.40 during trading on Friday, reaching $591.57. 747,308 shares of the company traded hands, compared to its average volume of 2,220,859. The business has a 50 day simple moving average of $504.77 and a 200 day simple moving average of $480.57. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a 12 month low of $319.66 and a 12 month high of $598.60. The company has a market capitalization of $186.82 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last announced 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 11.05%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.47 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GS shares. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on shares of 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. Oppenheimer raised their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $527.63.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by insiders.

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.