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

NorthCrest Asset Manangement LLC raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,550 shares of the investment management company’s stock after purchasing an additional 725 shares during the period. NorthCrest Asset Manangement LLC’s holdings in The Goldman Sachs Group were worth $19,087,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Forsta AP Fonden boosted its holdings in shares of The Goldman Sachs Group by 14.9% during the 3rd quarter. Forsta AP Fonden now owns 86,900 shares of the investment management company’s stock worth $43,025,000 after purchasing an additional 11,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of The Goldman Sachs Group by 14.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,057 shares of the investment management company’s stock worth $20,966,000 after acquiring an additional 5,402 shares during the period. CWC Advisors LLC. purchased a new position in shares of The Goldman Sachs Group during the 3rd quarter worth $1,774,000. Convergence Financial LLC grew its holdings in shares of The Goldman Sachs Group by 120.0% in the third quarter. Convergence Financial LLC now owns 2,121 shares of the investment management company’s stock valued at $1,050,000 after purchasing an additional 1,157 shares during the period. Finally, Joel Isaacson & Co. LLC increased its position in The Goldman Sachs Group by 6.1% during the third quarter. Joel Isaacson & Co. LLC now owns 9,315 shares of the investment management company’s stock worth $4,612,000 after purchasing an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Down 2.3 %

GS traded down $11.90 on Friday, hitting $512.60. 1,633,203 shares of the company were exchanged, compared to its average volume of 1,831,431. The firm has a 50-day moving average price of $500.37 and a two-hundred day moving average price of $472.81. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $540.51. The company has a market cap of $161.88 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 11.05% and a net margin of 9.89%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the company posted $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.34%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Oppenheimer increased their price target on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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 report on Wednesday, October 16th. Evercore ISI increased their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

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.