The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Prospector Partners LLC

Prospector Partners LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 49.7% during the third quarter, Holdings Channel.com reports. The fund owned 8,110 shares of the investment management company’s stock after selling 8,005 shares during the period. Prospector Partners LLC’s holdings in The Goldman Sachs Group were worth $4,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. Headlands Technologies LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew 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 worth $28,000 after buying an additional 31 shares in the last quarter. Finally, Quest Partners LLC raised its position in shares of The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 0.0 %

Shares of GS opened at $603.03 on Tuesday. The company’s 50-day simple moving average is $531.87 and its 200-day simple moving average is $495.51. 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 Goldman Sachs Group, Inc. has a 1 year low of $334.87 and a 1 year high of $611.30. The stock has a market capitalization of $189.30 billion, a PE ratio of 17.69, a P/E/G ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the company posted $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.99%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,390 shares of company stock worth $6,656,119. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $569.00 to $608.00 in a research report on Tuesday. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Barclays boosted their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $550.63.

The Goldman Sachs Group 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.