The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,747 shares of the investment management company’s stock after selling 1,150 shares during the quarter. The Goldman Sachs Group accounts for 1.6% of Washington Trust Bank’s investment portfolio, making the stock its 21st biggest holding. Washington Trust Bank’s holdings in The Goldman Sachs Group were worth $16,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $26,000. Headlands Technologies LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $27,000. SJS Investment Consulting Inc. raised its holdings in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Quest Partners LLC raised its holdings 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 worth $29,000 after acquiring an additional 63 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GS shares. Evercore ISI upped their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. UBS Group upped their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $527.63.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Stock Down 0.8 %

Shares of NYSE GS traded down $4.74 on Thursday, hitting $591.24. The company had a trading volume of 152,869 shares, compared to its average volume of 2,207,668. The Goldman Sachs Group, Inc. has a 12-month low of $319.66 and a 12-month high of $598.60. The business has a 50 day moving average of $504.77 and a two-hundred day moving average of $480.57. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $186.71 billion, a P/E ratio of 17.49, a PEG ratio of 0.74 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the business earned $5.47 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

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.