The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Lummis Asset Management LP

Lummis Asset Management LP decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,946 shares of the investment management company’s stock after selling 17 shares during the quarter. The Goldman Sachs Group makes up 2.3% of Lummis Asset Management LP’s portfolio, making the stock its 13th biggest position. Lummis Asset Management LP’s holdings in The Goldman Sachs Group were worth $1,954,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Waldron Private Wealth LLC increased its stake in shares of The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the last quarter. First Pacific Financial increased its position in shares of The Goldman Sachs Group by 0.6% in the 3rd quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after purchasing an additional 20 shares during the last quarter. Krane Funds Advisors LLC raised its stake in shares of The Goldman Sachs Group by 1.7% in the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares in the last quarter. Tanager Wealth Management LLP lifted its position in shares of The Goldman Sachs Group by 3.6% during the third quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock worth $282,000 after purchasing an additional 20 shares during the last quarter. Finally, M3 Advisory Group LLC increased its holdings in The Goldman Sachs Group by 3.9% in the third quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on 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 transaction, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GS shares. Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer raised their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. JMP Securities increased their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Finally, BMO Capital Markets increased their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $527.63.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded up $3.54 on Thursday, hitting $597.76. The company had a trading volume of 242,792 shares, compared to its average volume of 2,220,391. The Goldman Sachs Group, Inc. has a 52 week low of $334.55 and a 52 week high of $607.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $187.64 billion, a PE ratio of 17.43, a PEG ratio of 0.86 and a beta of 1.35. The business has a 50-day simple moving average of $513.80 and a 200-day simple moving average of $486.51.

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 (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $5.47 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

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.