Glenmede Trust Co. NA Has $13.46 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Glenmede Trust Co. NA trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,188 shares of the investment management company’s stock after selling 4,953 shares during the period. Glenmede Trust Co. NA’s holdings in The Goldman Sachs Group were worth $13,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Procyon Advisors LLC boosted 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 purchasing an additional 43 shares during the period. Brookstone Capital Management lifted its stake in shares of The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $5,529,000. Wedge Capital Management L L P NC grew its stake in The Goldman Sachs Group by 3.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock valued at $45,286,000 after buying an additional 2,993 shares during the last quarter. Finally, PGGM Investments raised its holdings in The Goldman Sachs Group by 341.8% in the 1st quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock valued at $4,815,000 after acquiring an additional 8,918 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Citigroup lifted their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley raised their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $550.63.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’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 completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $605.43 on Friday. The stock has a fifty day moving average of $538.72 and a 200-day moving average of $498.08. The stock has a market capitalization of $190.05 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $612.25.

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

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.98%. The Goldman Sachs Group’s payout ratio is presently 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.