Wharton Business Group LLC Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Wharton Business Group LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 16.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 68,412 shares of the investment management company’s stock after acquiring an additional 9,635 shares during the period. The Goldman Sachs Group comprises approximately 1.5% of Wharton Business Group LLC’s portfolio, making the stock its 20th biggest holding. Wharton Business Group LLC’s holdings in The Goldman Sachs Group were worth $33,872,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GS. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its holdings in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GS. Oppenheimer raised their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $535.75.

The Goldman Sachs Group Stock Down 0.1 %

The Goldman Sachs Group stock opened at $593.23 on Monday. 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 business’s 50-day simple moving average is $518.10 and its two-hundred day simple moving average is $489.21. The company has a market cap of $186.22 billion, a PE ratio of 17.42, a PEG ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.55 and a fifty-two week high of $607.15.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results 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 business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.47 EPS. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company 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 annualized dividend and a yield of 2.02%. The Goldman Sachs Group’s payout ratio is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. The trade was a 25.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is currently 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.