Essex LLC Trims Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Essex LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,033 shares of the investment management company’s stock after selling 379 shares during the period. The Goldman Sachs Group comprises about 2.5% of Essex LLC’s holdings, making the stock its 9th largest holding. Essex LLC’s holdings in The Goldman Sachs Group were worth $12,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Cyndeo Wealth Partners LLC boosted its position in The Goldman Sachs Group by 14.2% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 3,769 shares of the investment management company’s stock valued at $1,866,000 after buying an additional 468 shares during the period. Werba Rubin Papier Wealth Management bought a new position in shares of The Goldman Sachs Group during the third quarter valued at about $211,000. Resonant Capital Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 36.3% during the third quarter. Resonant Capital Advisors LLC now owns 668 shares of the investment management company’s stock worth $331,000 after purchasing an additional 178 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of The Goldman Sachs Group by 15.8% in the third quarter. Revolve Wealth Partners LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 113 shares during the last quarter. Finally, Everett Harris & Co. CA purchased a new position in The Goldman Sachs Group during the 3rd quarter valued at about $267,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GS. UBS Group increased their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research report on Wednesday. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Down 0.1 %

NYSE:GS opened at $528.50 on Friday. The firm has a 50-day simple moving average of $498.15 and a two-hundred day simple moving average of $469.46. The firm has a market cap of $170.42 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.47 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend yield of 2.27%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by 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.