Principle Wealth Partners LLC Purchases 1,501 Shares of Goldman Sachs Group Inc (NYSE:GS)

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Principle Wealth Partners LLC boosted its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 15.4% in the third quarter, Holdings Channel.com reports. The firm owned 11,252 shares of the investment management company’s stock after acquiring an additional 1,501 shares during the period. Principle Wealth Partners LLC’s holdings in Goldman Sachs Group were worth $2,332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its position in Goldman Sachs Group by 1,026.7% during the second quarter. Nuveen Asset Management LLC now owns 2,132,535 shares of the investment management company’s stock worth $436,316,000 after acquiring an additional 1,943,266 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Goldman Sachs Group by 42.4% during the 2nd quarter. Invesco Ltd. now owns 4,910,981 shares of the investment management company’s stock valued at $1,004,786,000 after buying an additional 1,463,251 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Goldman Sachs Group by 2,068.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 390,567 shares of the investment management company’s stock valued at $79,910,000 after buying an additional 372,558 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of Goldman Sachs Group by 31,213.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 356,034 shares of the investment management company’s stock valued at $35,603,000 after buying an additional 354,897 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Goldman Sachs Group by 41.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,197,657 shares of the investment management company’s stock valued at $245,040,000 after buying an additional 351,337 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Goldman Sachs Group from $221.00 to $244.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Odeon Capital Group cut shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $225.00 to $260.00 in a research note on Friday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Finally, Oppenheimer lowered their target price on shares of Goldman Sachs Group from $316.00 to $301.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $244.92.

NYSE GS traded down $0.38 on Friday, hitting $222.91. The stock had a trading volume of 1,578,409 shares, compared to its average volume of 2,668,293. Goldman Sachs Group Inc has a 52-week low of $151.70 and a 52-week high of $231.69. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.85 and a current ratio of 0.78. The company has a market capitalization of $79.06 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The firm has a 50-day moving average of $209.60 and a 200-day moving average of $204.66.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $4.79 EPS for the quarter, missing the Zacks’ consensus estimate of $5.03 by ($0.24). The company had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $8.33 billion. Goldman Sachs Group had a return on equity of 11.41% and a net margin of 18.86%. Goldman Sachs Group’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.28 EPS. As a group, research analysts anticipate that Goldman Sachs Group Inc will post 21.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, November 29th. Goldman Sachs Group’s payout ratio is 19.79%.

Goldman Sachs Group Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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

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