Jackson Wealth Management LLC Makes New $285,000 Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Jackson Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 576 shares of the investment management company’s stock, valued at approximately $285,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvey Investment Co. LLC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $208,000. Romano Brothers AND Company increased its stake in shares of The Goldman Sachs Group by 7.7% in the 3rd quarter. Romano Brothers AND Company now owns 1,050 shares of the investment management company’s stock valued at $520,000 after purchasing an additional 75 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of The Goldman Sachs Group by 6.7% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,496 shares of the investment management company’s stock valued at $741,000 after purchasing an additional 94 shares during the last quarter. Tanager Wealth Management LLP increased its stake in shares of The Goldman Sachs Group by 3.6% in the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 20 shares during the last quarter. Finally, Axecap Investments LLC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $3,078,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.8 %

Shares of NYSE:GS traded up $3.98 during midday trading on Thursday, reaching $521.18. The company’s stock had a trading volume of 477,653 shares, compared to its average volume of 2,200,881. The firm has a market capitalization of $168.06 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50 day moving average price of $499.70 and a two-hundred day moving average price of $471.74. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $540.51.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the business earned $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 46.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JMP Securities raised their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Morgan Stanley raised their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $524.69.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group 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.