BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 8,353 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,808 shares of the investment management company’s stock after selling 8,353 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Goldman Sachs Group were worth $26,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GS. POM Investment Strategies LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its position 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 worth $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC increased its position 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 worth $29,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 0.5 %

Shares of NYSE GS opened at $608.57 on Friday. The firm has a market cap of $191.04 billion, a PE ratio of 17.86, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $340.09 and a 12-month high of $612.73. The company’s fifty day simple moving average is $540.94 and its 200 day simple moving average is $499.44. 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 Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The Goldman Sachs Group’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.47 earnings per share. As a group, sell-side analysts forecast 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. Shareholders of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GS. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Barclays upped their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Finally, Morgan Stanley upped 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, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $550.63.

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.