Axxcess Wealth Management LLC Raises Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Axxcess Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 37.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,930 shares of the investment management company’s stock after buying an additional 3,543 shares during the quarter. Axxcess Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $6,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group in the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter worth $27,000. SJS Investment Consulting Inc. lifted its position in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Finally, Quest Partners LLC grew its stake in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 1.2 %

Shares of GS opened at $589.26 on Friday. The firm has a market cap of $184.97 billion, a P/E ratio of 17.29, a PEG ratio of 0.87 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12 month low of $319.66 and a 12 month high of $598.60. The stock’s 50 day moving average is $507.79 and its two-hundred day moving average is $482.47. The company has a current ratio of 0.67, a quick ratio of 0.72 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion for 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 firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 EPS. Analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GS shares. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Barclays upped their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $527.63.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group 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 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 $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated 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 approximately $5,359,435.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is owned by corporate insiders.

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.