DRW Securities LLC Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

DRW Securities LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 73.2% during the third quarter, Holdings Channel reports. The institutional investor owned 2,159 shares of the investment management company’s stock after selling 5,892 shares during the period. DRW Securities LLC’s holdings in The Goldman Sachs Group were worth $1,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mizuho Securities USA LLC lifted its position in shares of The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. Fisher Asset Management LLC raised its stake in The Goldman Sachs Group by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after purchasing an additional 161,133 shares during the period. Legal & General Group Plc raised its stake in The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the period. Dimensional Fund Advisors LP raised its stake in The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in The Goldman Sachs Group by 0.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock valued at $494,187,000 after purchasing an additional 4,007 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’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 completion of the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 in the last quarter. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GS has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup lifted their target price on 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. Barclays lifted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Finally, UBS Group lifted their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $603.03 on Tuesday. The company has a market cap of $189.30 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.88 and a beta of 1.35. 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 business’s 50 day moving average price is $531.87 and its 200-day moving average price is $495.51. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two week high of $611.30.

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 the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.47 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

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