1,170 The Goldman Sachs Group, Inc. $GS Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,221 shares of the investment management company’s stock after buying an additional 1,170 shares during the period. Simplicity Wealth LLC’s holdings in The Goldman Sachs Group were worth $15,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ascent Wealth Partners LLC raised its stake in shares of The Goldman Sachs Group by 1.2% in the 3rd quarter. Ascent Wealth Partners LLC now owns 7,817 shares of the investment management company’s stock valued at $7,038,000 after acquiring an additional 89 shares in the last quarter. Lorne Steinberg Wealth Management Inc. lifted its holdings in The Goldman Sachs Group by 0.7% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 10,423 shares of the investment management company’s stock worth $9,384,000 after purchasing an additional 75 shares during the last quarter. Blodgett Wealth Advisors LLC boosted its position in The Goldman Sachs Group by 6.0% during the third quarter. Blodgett Wealth Advisors LLC now owns 266 shares of the investment management company’s stock worth $240,000 after purchasing an additional 15 shares during the period. Gibbs Wealth Management boosted its position in The Goldman Sachs Group by 66.7% during the third quarter. Gibbs Wealth Management now owns 465 shares of the investment management company’s stock worth $419,000 after purchasing an additional 186 shares during the period. Finally, Lantern Wealth Advisors LLC boosted its position in The Goldman Sachs Group by 18.5% during the third quarter. Lantern Wealth Advisors LLC now owns 263 shares of the investment management company’s stock worth $237,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GS shares. Morgan Stanley set a $1,145.00 price target on The Goldman Sachs Group in a report on Wednesday, July 15th. UBS Group reduced their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Jefferies Financial Group set a $1,299.00 price objective on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. HSBC upped their price objective on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the stock a “hold” rating in a report on Monday, September 28th. Finally, Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $1,052.48.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Freedom Broker upgraded GS from “Hold” to “Buy” and set a $1,100 price target, implying approximately 25.6% upside from the referenced share price. However, the target was reduced from $1,200, which somewhat tempers the bullish signal. Freedom Broker upgrades Goldman Sachs to Buy
• Positive Sentiment: Goldman Sachs reported particularly strong equities performance in the third quarter, with net revenue rising 72% year over year to $6.44 billion. Robust client activity, financing demand and derivatives contributed to the result, supporting optimism about earnings momentum. Goldman Sachs equities revenue growth
• Positive Sentiment: Zacks upgraded Goldman Sachs to a Rank #2 (“Buy”), citing improving expectations for the company’s earnings prospects. Zacks upgrades Goldman Sachs to Buy

The Goldman Sachs Group Trading Down 1.7%

The Goldman Sachs Group stock opened at $876.07 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $754.00 and a 52 week high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. The firm has a market capitalization of $255.08 billion, a PE ratio of 12.60, a PEG ratio of 0.83 and a beta of 1.29. The business’s 50-day simple moving average is $959.69 and its 200-day simple moving average is $990.65.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter in the prior year, the company earned $12.25 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 70.89 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a $5.00 dividend. This represents a $20.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 28.76%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.