Goldman Sachs Group Inc (GS) Position Lowered by Wright Investors Service Inc.

Wright Investors Service Inc. lessened its holdings in Goldman Sachs Group Inc (NYSE:GS) by 30.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,442 shares of the investment management company’s stock after selling 628 shares during the quarter. Wright Investors Service Inc.’s holdings in Goldman Sachs Group were worth $342,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brightworth acquired a new position in shares of Goldman Sachs Group in the third quarter valued at $5,663,000. E&G Advisors LP grew its stake in shares of Goldman Sachs Group by 42.9% in the third quarter. E&G Advisors LP now owns 4,000 shares of the investment management company’s stock valued at $949,000 after acquiring an additional 1,200 shares in the last quarter. Heritage Investors Management Corp grew its stake in shares of Goldman Sachs Group by 0.9% in the third quarter. Heritage Investors Management Corp now owns 65,426 shares of the investment management company’s stock valued at $15,518,000 after acquiring an additional 578 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Goldman Sachs Group by 16.0% in the third quarter. JFS Wealth Advisors LLC now owns 1,813 shares of the investment management company’s stock valued at $430,000 after acquiring an additional 250 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its stake in shares of Goldman Sachs Group by 0.9% in the third quarter. Reilly Financial Advisors LLC now owns 46,512 shares of the investment management company’s stock valued at $11,032,000 after acquiring an additional 401 shares in the last quarter. 73.35% of the stock is currently owned by institutional investors and hedge funds.

Goldman Sachs Group Inc (NYSE:GS) traded up $1.70 during mid-day trading on Monday, reaching $250.65. The company’s stock had a trading volume of 3,313,154 shares, compared to its average volume of 3,294,288. Goldman Sachs Group Inc has a 1-year low of $209.62 and a 1-year high of $255.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82. The stock has a market cap of $93,904.31, a price-to-earnings ratio of 12.97, a PEG ratio of 1.26 and a beta of 1.47.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.85. The company had revenue of $8.33 billion during the quarter, compared to analyst estimates of $7.59 billion. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. Goldman Sachs Group’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. sell-side analysts expect that Goldman Sachs Group Inc will post 19.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be given a $0.75 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.20%. Goldman Sachs Group’s payout ratio is 15.63%.

In other news, VP Gregory K. Palm sold 4,620 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $238.99, for a total value of $1,104,133.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David M. Solomon sold 12,707 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $237.94, for a total value of $3,023,503.58. The disclosure for this sale can be found here. Insiders sold a total of 135,177 shares of company stock valued at $32,435,160 in the last 90 days. 2.57% of the stock is currently owned by corporate insiders.

GS has been the topic of several research reports. Royal Bank Of Canada restated a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group in a research note on Thursday, August 31st. Morgan Stanley increased their price objective on shares of Goldman Sachs Group from $265.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a report on Thursday, October 19th. JMP Securities reissued a “market perform” rating on shares of Goldman Sachs Group in a report on Wednesday, September 13th. Finally, J P Morgan Chase & Co set a $260.00 price objective on shares of Goldman Sachs Group and gave the company a “buy” rating in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $244.65.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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