New Covenant Trust Company N.A. Buys 49 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

New Covenant Trust Company N.A. lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 525 shares of the investment management company’s stock after purchasing an additional 49 shares during the period. New Covenant Trust Company N.A.’s holdings in The Goldman Sachs Group were worth $262,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Procyon Advisors LLC raised its stake in shares of The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares during the period. Brookstone Capital Management raised its stake in 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 acquiring an additional 761 shares during the period. Empowered Funds LLC lifted its holdings in The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after purchasing an additional 2,428 shares during the last quarter. Duality Advisers LP bought a new position in The Goldman Sachs Group during the first quarter worth about $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after purchasing an additional 2,103 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred 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 owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $519.35 on Friday. The business’s 50 day moving average price is $502.45 and its 200-day moving average price is $477.61. The Goldman Sachs Group, Inc. has a fifty-two week low of $308.00 and a fifty-two week high of $540.51. The company has a market cap of $164.01 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11.

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 11.05% and a net margin of 9.89%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the business earned $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend 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 presently 35.21%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Bank of America increased their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, UBS Group lifted their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

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.