Trustmark National Bank Trust Department Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Trustmark National Bank Trust Department grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 103.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,248 shares of the investment management company’s stock after purchasing an additional 634 shares during the quarter. Trustmark National Bank Trust Department’s holdings in The Goldman Sachs Group were worth $618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in The Goldman Sachs Group by 407.2% during the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock worth $175,000 after purchasing an additional 338 shares in the last quarter. Shell Asset Management Co. acquired a new position in The Goldman Sachs Group in the 1st quarter valued at about $377,000. EntryPoint Capital LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at about $101,000. Gamco Investors INC. ET AL increased its stake in shares of The Goldman Sachs Group by 1.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 6,461 shares of the investment management company’s stock valued at $2,699,000 after acquiring an additional 100 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership acquired a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $4,129,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 2.6 %

GS opened at $597.01 on Friday. The business has a 50 day moving average price of $527.04 and a 200 day moving average price of $492.68. The Goldman Sachs Group, Inc. has a twelve month low of $334.87 and a twelve month high of $607.15. 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 firm has a market cap of $187.41 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GS shares. Bank of America boosted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group increased their target price on 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 upped their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.00.

Insider Activity

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

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.