Empire Financial Management Company LLC Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Empire Financial Management Company LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,275 shares of the investment management company’s stock after acquiring an additional 103 shares during the period. Empire Financial Management Company LLC’s holdings in The Goldman Sachs Group were worth $1,621,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GS. Waddell & Associates LLC lifted its position in The Goldman Sachs Group by 2.1% in the third quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after buying an additional 18 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its stake in shares of The Goldman Sachs Group by 0.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock worth $1,346,000 after purchasing an additional 18 shares during the period. Waldron Private Wealth LLC grew its holdings in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after purchasing an additional 20 shares during the last quarter. First Pacific Financial raised its position in 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 period. Finally, Krane Funds Advisors LLC lifted its stake in The Goldman Sachs Group by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock worth $583,000 after purchasing an additional 20 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Barclays increased their target price on 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. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $559.75.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction 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 directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,550 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the transaction, the chief executive officer now owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This trade represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,940 shares of company stock worth $13,717,979. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Trading Down 1.6 %

NYSE:GS opened at $584.86 on Wednesday. The stock has a market capitalization of $183.59 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.86 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 52 week low of $349.05 and a 52 week high of $612.73. 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 firm has a 50 day moving average of $553.26 and a 200 day moving average of $505.37.

The Goldman Sachs Group (NYSE:GS) last issued 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 Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter 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. As a group, sell-side analysts anticipate 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 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 annualized dividend and a yield of 2.05%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

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.