Main Street Financial Solutions LLC Trims Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Main Street Financial Solutions LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,542 shares of the investment management company’s stock after selling 22 shares during the quarter. Main Street Financial Solutions LLC’s holdings in The Goldman Sachs Group were worth $763,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GS. Procyon Advisors LLC lifted its position in The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after buying an additional 43 shares during the period. Brookstone Capital Management increased its position in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after purchasing an additional 761 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of The Goldman Sachs Group by 25.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after purchasing an additional 2,442 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at $5,529,000. Finally, Bessemer Group Inc. grew its position in The Goldman Sachs Group by 56.1% during the first quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after acquiring an additional 7,826 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In other news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now 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 document filed with the SEC, which is accessible through this link. In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Up 0.2 %

Shares of The Goldman Sachs Group stock opened at $594.04 on Thursday. The firm has a market cap of $186.48 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.86 and a beta of 1.35. The business has a 50-day moving average price of $511.74 and a 200 day moving average price of $485.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a fifty-two week low of $332.47 and a fifty-two week high of $607.15.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the business posted $5.47 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Analysts Set New Price Targets

GS has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. UBS Group upped their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays raised their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America increased their target price 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. Finally, JMP Securities boosted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $527.63.

The Goldman Sachs Group Company 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.