Gofen & Glossberg LLC IL Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Gofen & Glossberg LLC IL lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,697 shares of the investment management company’s stock after selling 125 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in The Goldman Sachs Group were worth $1,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ninety One SA PTY Ltd grew its stake in The Goldman Sachs Group by 9.4% in the second quarter. Ninety One SA PTY Ltd now owns 303 shares of the investment management company’s stock valued at $114,000 after purchasing an additional 26 shares during the last quarter. Woodstock Corp grew its stake in shares of The Goldman Sachs Group by 3.2% during the third quarter. Woodstock Corp now owns 830 shares of the investment management company’s stock worth $314,000 after acquiring an additional 26 shares during the last quarter. Carlson Capital Management grew its stake in shares of The Goldman Sachs Group by 4.9% during the third quarter. Carlson Capital Management now owns 556 shares of the investment management company’s stock worth $210,000 after acquiring an additional 26 shares during the last quarter. Tradition Wealth Management LLC grew its stake in shares of The Goldman Sachs Group by 10.3% during the second quarter. Tradition Wealth Management LLC now owns 290 shares of the investment management company’s stock worth $110,000 after acquiring an additional 27 shares during the last quarter. Finally, First Commonwealth Financial Corp PA grew its stake in shares of The Goldman Sachs Group by 1.5% during the second quarter. First Commonwealth Financial Corp PA now owns 1,815 shares of the investment management company’s stock worth $689,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 70.64% of the company’s stock.

Shares of GS stock opened at $399.19 on Thursday. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $133.65 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 0.57 and a beta of 1.53. The stock has a 50 day simple moving average of $398.60 and a 200-day simple moving average of $388.15. The Goldman Sachs Group, Inc. has a 1-year low of $230.36 and a 1-year high of $426.16.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Thursday, October 14th. The investment management company reported $14.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.78 by $5.15. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $11.61 billion. The Goldman Sachs Group had a return on equity of 24.52% and a net margin of 34.46%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the company posted $9.68 EPS. Analysts anticipate that The Goldman Sachs Group, Inc. will post 60.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Thursday, December 2nd will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, December 1st. The Goldman Sachs Group’s payout ratio is 13.19%.

A number of equities research analysts have recently weighed in on GS shares. Credit Suisse Group boosted their price target on The Goldman Sachs Group from $450.00 to $470.00 and gave the stock an “outperform” rating in a research note on Monday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $435.00 target price (up previously from $370.00) on shares of The Goldman Sachs Group in a report on Monday, October 18th. Citigroup lifted their target price on The Goldman Sachs Group from $410.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, October 1st. Oppenheimer lifted their target price on The Goldman Sachs Group from $520.00 to $576.00 and gave the stock an “outperform” rating in a report on Monday, October 18th. Finally, BMO Capital Markets lifted their target price on The Goldman Sachs Group from $432.00 to $451.00 and gave the stock an “outperform” rating in a report on Monday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $419.29.

The Goldman Sachs Group Profile

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

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

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