Charles Schwab Investment Management Inc. Has $947.67 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Charles Schwab Investment Management Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,914,059 shares of the investment management company’s stock after selling 29,038 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in The Goldman Sachs Group were worth $947,670,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GS. Procyon Advisors LLC grew its holdings 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 valued at $411,000 after purchasing an additional 43 shares during the period. Brookstone Capital Management grew its holdings in shares of The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares during the period. Axxcess Wealth Management LLC increased its position 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 buying an additional 2,442 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth $5,529,000. Finally, Wedge Capital Management L L P NC lifted its holdings in The Goldman Sachs Group by 3.1% during the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after acquiring an additional 2,993 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America upped their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays raised their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $586.22 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a fifty day simple moving average of $524.58 and a two-hundred day simple moving average of $491.95. The Goldman Sachs Group, Inc. has a 1-year low of $334.87 and a 1-year high of $607.15. The firm has a market cap of $184.02 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.47 earnings per share. Analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.05%. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock valued at $6,656,119 in the last 90 days. 0.54% of the stock is currently owned by company 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.