Stonebrook Private Inc. Trims Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Stonebrook Private Inc. decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 21.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 669 shares of the investment management company’s stock after selling 181 shares during the period. Stonebrook Private Inc.’s holdings in The Goldman Sachs Group were worth $331,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Procyon Advisors LLC boosted its stake in The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares during the period. Brookstone Capital Management lifted its stake in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after purchasing an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in The Goldman Sachs Group during the second quarter worth about $5,529,000. Wedge Capital Management L L P NC lifted its stake in The Goldman Sachs Group by 3.1% during the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after purchasing an additional 2,993 shares during the last quarter. Finally, PGGM Investments lifted its stake in The Goldman Sachs Group by 341.8% during the first quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock worth $4,815,000 after purchasing an additional 8,918 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on 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 16.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 1.1 %

Shares of NYSE:GS opened at $602.75 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $334.87 and a 1 year high of $607.15. The company has a market cap of $189.21 billion, a PE ratio of 17.69, a P/E/G ratio of 0.87 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50-day moving average is $529.52 and its 200 day moving average is $493.78.

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

The Goldman Sachs Group Dividend Announcement

The company 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 1.99%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GS shares. Barclays lifted their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $542.00.

About The Goldman Sachs Group

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.