Hodges Capital Management Inc. Sells 1,095 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Hodges Capital Management Inc. lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,380 shares of the investment management company’s stock after selling 1,095 shares during the quarter. Hodges Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $5,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RFG Advisory LLC lifted its stake in shares of The Goldman Sachs Group by 29.9% in the 2nd quarter. RFG Advisory LLC now owns 3,119 shares of the investment management company’s stock valued at $1,411,000 after purchasing an additional 718 shares during the period. Transform Wealth LLC grew its holdings in shares of The Goldman Sachs Group by 4.0% during the second quarter. Transform Wealth LLC now owns 30,666 shares of the investment management company’s stock worth $13,871,000 after buying an additional 1,171 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of The Goldman Sachs Group by 9.5% in the second quarter. Dynamic Advisor Solutions LLC now owns 3,186 shares of the investment management company’s stock valued at $1,441,000 after purchasing an additional 277 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV bought a new stake in The Goldman Sachs Group during the 2nd quarter worth about $251,000. Finally, LVW Advisors LLC raised its holdings in The Goldman Sachs Group by 17.6% during the second quarter. LVW Advisors LLC now owns 1,339 shares of the investment management company’s stock worth $606,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.5 %

Shares of GS stock opened at $599.68 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $342.00 and a fifty-two week high of $612.73. The stock’s fifty day moving average price is $551.28 and its two-hundred day moving average price is $504.12. 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 company has a market cap of $188.25 billion, a PE ratio of 17.60, a P/E/G ratio of 0.87 and a beta of 1.38.

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 11.39% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the firm posted $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. Equities analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Buying and Selling

In other news, insider Brian J. Lee sold 2,000 shares of the company’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 transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the transaction, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock worth $13,717,979 in the last three months. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GS has been the subject of a number of recent analyst reports. Barclays increased 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 note on Wednesday, October 16th. Hsbc Global Res lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $559.75.

About The Goldman Sachs Group

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.