The Goldman Sachs Group, Inc. $GS Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 15.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,759 shares of the investment management company’s stock after selling 1,975 shares during the period. DAVENPORT & Co LLC’s holdings in The Goldman Sachs Group were worth $8,568,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after buying an additional 58 shares in the last quarter. Freedom Investment Management Inc. bought a new position in The Goldman Sachs Group during the 1st quarter worth approximately $286,000. Gamco Investors INC. ET AL grew its position in shares of The Goldman Sachs Group by 3.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 6,336 shares of the investment management company’s stock worth $3,461,000 after acquiring an additional 200 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of The Goldman Sachs Group by 30.5% in the 1st quarter. CreativeOne Wealth LLC now owns 6,939 shares of the investment management company’s stock valued at $3,791,000 after acquiring an additional 1,623 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 1.0%

Shares of NYSE:GS opened at $910.34 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $919.10. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The firm has a market cap of $273.04 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.20 and a beta of 1.36. The company has a 50 day moving average of $820.82 and a 200-day moving average of $761.16.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The firm had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the prior year, the firm posted $8.40 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HSBC raised their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $750.00 price target (up from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday, October 21st. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Citigroup upped their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $792.67.

The Goldman Sachs Group Company Profile

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.