Corundum Group Inc. Has $583,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Corundum Group Inc. lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 54.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,178 shares of the investment management company’s stock after selling 1,411 shares during the quarter. Corundum Group Inc.’s holdings in The Goldman Sachs Group were worth $583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group in the second quarter valued at $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group during the second quarter worth $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.1 %

NYSE:GS opened at $528.50 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $540.51. The stock’s fifty day simple moving average is $498.15 and its 200-day simple moving average is $469.85. The firm has a market capitalization of $170.42 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results 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 firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.47 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Barclays raised their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley lifted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Company 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.