Morse Asset Management Inc Takes $911,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Morse Asset Management Inc acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,841 shares of the investment management company’s stock, valued at approximately $911,000.

Other hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group in the second quarter worth about $27,000. SJS Investment Consulting Inc. grew its stake in shares of 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 valued at $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC increased its position in shares of 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 valued at $29,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of several recent research reports. Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $557.88.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $601.94 on Wednesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $188.95 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. The firm has a 50-day moving average of $545.10 and a two-hundred day moving average of $501.59. The Goldman Sachs Group, Inc. has a 1 year low of $340.54 and a 1 year high of $612.73.

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

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid 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 1.99%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at $72,015,903.53. This represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock worth $13,717,979 over the last three months. 0.57% of the stock is owned by corporate insiders.

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.