Sumitomo Life Insurance Co. Sells 4,986 Shares of The Goldman Sachs Group, Inc. $GS

Sumitomo Life Insurance Co. reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,986 shares of the investment management company’s stock after selling 4,986 shares during the period. The Goldman Sachs Group accounts for about 0.9% of Sumitomo Life Insurance Co.’s holdings, making the stock its 21st biggest position. Sumitomo Life Insurance Co.’s holdings in The Goldman Sachs Group were worth $13,437,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the first quarter valued at about $25,000. Dogwood Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after purchasing an additional 23 shares during the period. Ridgewood Investments LLC raised its stake in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth $39,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Down 0.1%

Shares of GS opened at $789.50 on Friday. The business has a 50-day moving average of $773.85 and a 200 day moving average of $691.50. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm has a market cap of $239.00 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same quarter last year, the firm posted $8.40 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GS shares. Barclays lifted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley lowered their target price on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. BNP Paribas Exane lifted their target price on The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Citigroup lifted their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, BMO Capital Markets started coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $785.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $779.50.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at $86,463,679.48. The trade was a 7.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by insiders.

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.