Fmr LLC Grows Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Fmr LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,898,637 shares of the investment management company’s stock after buying an additional 521,054 shares during the period. Fmr LLC’s holdings in The Goldman Sachs Group were worth $1,435,144,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GS. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. increased its holdings in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC increased its holdings in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GS shares. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $569.00 to $608.00 in a report on Tuesday. Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America lifted their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $605.22 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The business’s 50 day moving average price is $534.27 and its 200-day moving average price is $496.57. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $611.30. The stock has a market cap of $189.98 billion, a P/E ratio of 17.76, 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, topping 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 firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the firm posted $5.47 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal 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 given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 1.98%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the company’s 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 transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred 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 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. In the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is owned by corporate insiders.

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.