Meritage Portfolio Management Sells 155 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Meritage Portfolio Management lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,822 shares of the investment management company’s stock after selling 155 shares during the period. Meritage Portfolio Management’s holdings in The Goldman Sachs Group were worth $7,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GS. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $26,000. POM Investment Strategies LLC purchased a new stake in The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares in the last quarter. Finally, West Branch Capital LLC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $30,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the firm’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 value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Up 1.2 %

Shares of The Goldman Sachs Group stock traded up $7.09 during trading on Friday, reaching $589.26. 2,713,956 shares of the stock were exchanged, compared to its average volume of 2,268,716. The company has a quick ratio of 0.72, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market cap of $184.97 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $319.66 and a 1 year high of $598.60. The stock’s fifty day moving average is $507.79 and its 200 day moving average is $482.47.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping 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 business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The business’s 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 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GS. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective 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. Bank of America raised their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group upped their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays lifted their price target on shares of 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. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $527.63.

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.