Suvretta Capital Management LLC Boosts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Suvretta Capital Management LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 38.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,308 shares of the investment management company’s stock after buying an additional 30,360 shares during the period. The Goldman Sachs Group accounts for about 1.7% of Suvretta Capital Management LLC’s holdings, making the stock its 18th largest holding. Suvretta Capital Management LLC’s holdings in The Goldman Sachs Group were worth $53,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GS. Hantz Financial Services Inc. boosted its stake in The Goldman Sachs Group by 1,240.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,771 shares of the investment management company’s stock valued at $2,362,000 after purchasing an additional 4,415 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in The Goldman Sachs Group by 12.3% during the 3rd quarter. Vinva Investment Management Ltd now owns 14,902 shares of the investment management company’s stock valued at $7,429,000 after purchasing an additional 1,636 shares during the last quarter. Financial Counselors Inc. boosted its stake in The Goldman Sachs Group by 1.1% during the 3rd quarter. Financial Counselors Inc. now owns 2,485 shares of the investment management company’s stock valued at $1,230,000 after purchasing an additional 27 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in The Goldman Sachs Group by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,707,632 shares of the investment management company’s stock valued at $845,466,000 after purchasing an additional 18,541 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in The Goldman Sachs Group by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 55,191 shares of the investment management company’s stock valued at $27,326,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $605.43 on Friday. 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 stock’s fifty day moving average is $538.72 and its 200 day moving average is $498.08. The stock has a market cap of $190.05 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, Inc. has a one year low of $334.87 and a one year high of $612.25.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $5.47 earnings per share. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.98%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Wall Street Analyst Weigh In

Several analysts have commented on GS shares. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the company from $569.00 to $608.00 in a report on Tuesday. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley increased their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $550.63.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock valued at $6,656,119 over the last ninety days. 0.54% of the stock is currently owned by company 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.