Sky Investment Group LLC Trims Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Sky Investment Group LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,010 shares of the investment management company’s stock after selling 30 shares during the period. Sky Investment Group LLC’s holdings in The Goldman Sachs Group were worth $500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waldron Private Wealth LLC raised its holdings in shares of The Goldman Sachs Group by 0.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after purchasing an additional 20 shares during the period. First Pacific Financial raised its stake in The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after buying an additional 20 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in The Goldman Sachs Group by 1.7% during 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. M3 Advisory Group LLC grew its position in shares of The Goldman Sachs Group by 3.9% during the 3rd 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. Finally, Fulton Bank N.A. raised its position in shares of The Goldman Sachs Group by 0.8% during the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock worth $1,233,000 after purchasing an additional 22 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on GS shares. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. JMP Securities increased their price target 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. Oppenheimer lifted their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their target price 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. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $524.69.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction 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 approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 0.2 %

Shares of GS stock traded up $0.90 during mid-day trading on Tuesday, hitting $518.70. The company’s stock had a trading volume of 355,278 shares, compared to its average volume of 2,207,883. The company has a market cap of $167.26 billion, a PE ratio of 20.22, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $540.51. The company’s fifty day simple moving average is $498.80 and its 200-day simple moving average is $470.64. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last announced its 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 Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the firm earned $5.47 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

About The Goldman Sachs Group

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.