The Goldman Sachs Group, Inc. $GS Holdings Lifted by Tower View Wealth Management LLC

Tower View Wealth Management LLC raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 40.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,236 shares of the investment management company’s stock after purchasing an additional 930 shares during the quarter. Tower View Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Orange County Employees Retirement System bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $69,537,544,000. BlackRock Inc. acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $24,172,123,000. Bank of America Corp DE acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $6,756,772,000. Bank of New York Mellon Corp bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at $2,560,028,000. Finally, International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $2,024,921,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $876.07 on Monday. The Goldman Sachs Group, Inc. has a 12 month low of $754.00 and a 12 month high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63. The firm has a market capitalization of $255.08 billion, a PE ratio of 12.60, a P/E/G ratio of 0.83 and a beta of 1.29. The company’s 50 day simple moving average is $959.69 and its 200 day simple moving average is $991.52.

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

The Goldman Sachs Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings lowered The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Citigroup reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $955.00 to $970.00 and gave the company a “neutral” rating in a research note on Friday, October 16th. BMO Capital Markets cut their price objective on shares of The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a research note on Monday, October 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $1,052.48.

The Goldman Sachs Group News Summary

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 Company 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.