Tiedemann Wealth Management LLC cut its stake in Goldman Sachs Group Inc (NYSE:GS) by 77.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,209 shares of the investment management company’s stock after selling 35,176 shares during the period. Tiedemann Wealth Management LLC’s holdings in Goldman Sachs Group were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its position in Goldman Sachs Group by 1.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 895,111 shares of the investment management company’s stock worth $212,311,000 after acquiring an additional 15,150 shares during the period. Commonwealth Bank of Australia grew its position in Goldman Sachs Group by 5.9% in the third quarter. Commonwealth Bank of Australia now owns 79,023 shares of the investment management company’s stock worth $18,738,000 after acquiring an additional 4,390 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Goldman Sachs Group in the third quarter worth approximately $11,765,000. Zeke Capital Advisors LLC grew its position in Goldman Sachs Group by 93.5% in the third quarter. Zeke Capital Advisors LLC now owns 5,786 shares of the investment management company’s stock worth $1,372,000 after acquiring an additional 2,796 shares during the period. Finally, Amalgamated Bank grew its position in Goldman Sachs Group by 1.7% in the third quarter. Amalgamated Bank now owns 42,049 shares of the investment management company’s stock worth $9,974,000 after acquiring an additional 709 shares during the period. Institutional investors and hedge funds own 73.35% of the company’s stock.
In other news, insider David M. Solomon sold 2,400 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $238.49, for a total value of $572,376.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David A. Viniar sold 7,393 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $245.18, for a total value of $1,812,615.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,177 shares of company stock worth $32,435,160. Insiders own 2.57% of the company’s stock.
Goldman Sachs Group Inc (NYSE:GS) opened at $250.35 on Friday. The company has a market capitalization of $93,757.20, a price-to-earnings ratio of 12.95, a PEG ratio of 1.26 and a beta of 1.47. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. Goldman Sachs Group Inc has a 52-week low of $209.62 and a 52-week high of $255.15.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.17 by $0.85. The business had revenue of $8.33 billion for the quarter, compared to analysts’ expectations of $7.59 billion. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $4.88 earnings per share. equities research analysts predict that Goldman Sachs Group Inc will post 19.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, November 29th. Goldman Sachs Group’s payout ratio is currently 15.63%.
GS has been the subject of several analyst reports. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research report on Friday, October 13th. J P Morgan Chase & Co set a $260.00 price objective on Goldman Sachs Group and gave the stock a “buy” rating in a research report on Friday, September 15th. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research report on Friday, October 20th. Bank of America increased their price objective on Goldman Sachs Group from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a research report on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $246.10.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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