Providence Wealth Advisors LLC Sells 21 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Providence Wealth Advisors LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 549 shares of the investment management company’s stock after selling 21 shares during the period. Providence Wealth Advisors LLC’s holdings in The Goldman Sachs Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC lifted its stake in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after buying an additional 161,133 shares in the last quarter. FMR LLC lifted its stake in shares of The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after buying an additional 521,054 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of The Goldman Sachs Group by 2.9% in the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after buying an additional 77,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of The Goldman Sachs Group by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after buying an additional 68,141 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GS shares. Barclays raised their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the company from $569.00 to $608.00 in a research report on Tuesday. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America raised their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.63.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction 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. The trade was a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following 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 represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock worth $6,656,119 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

GS opened at $605.43 on Friday. The company has a market capitalization of $190.05 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.88 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average price of $538.72 and a 200-day moving average price of $498.08. The Goldman Sachs Group, Inc. has a twelve month low of $334.87 and a twelve month high of $612.25.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $5.47 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The Goldman Sachs Group’s payout ratio is 35.21%.

The Goldman Sachs Group 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.