Adams Asset Advisors LLC Sells 1,825 Shares of The Goldman Sachs Group, Inc. $GS

Adams Asset Advisors LLC trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,142 shares of the investment management company’s stock after selling 1,825 shares during the period. The Goldman Sachs Group accounts for about 1.3% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Adams Asset Advisors LLC’s holdings in The Goldman Sachs Group were worth $10,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after buying an additional 116,535 shares during the period. Ignite Planners LLC purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at $239,000. Bank of New York Mellon Corp boosted its holdings in The Goldman Sachs Group by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock worth $2,392,124,000 after buying an additional 157,473 shares during the period. Jump Financial LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $9,596,000. Finally, Wells Trecaso Financial Group LLC increased its stake in The Goldman Sachs Group by 0.5% in the 2nd quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock worth $15,240,000 after buying an additional 108 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $893.83 on Friday. The firm has a fifty day simple moving average of $810.10 and a two-hundred day simple moving average of $752.84. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $919.10. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $268.09 billion, a P/E ratio of 18.16, a PEG ratio of 1.16 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The firm had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $8.40 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.50%.

Key Headlines Impacting The Goldman Sachs Group

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GS shares. Barclays boosted their price objective on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. HSBC boosted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. UBS Group upped their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Monday. Finally, Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $792.67.

Check Out Our Latest Report on GS

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

See Also

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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