Dai ichi Life Insurance Company Ltd Sells 6,009 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Dai ichi Life Insurance Company Ltd lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 19.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,469 shares of the investment management company’s stock after selling 6,009 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in The Goldman Sachs Group were worth $12,115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mizuho Securities USA LLC lifted its stake in The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. Fisher Asset Management LLC raised its stake in The Goldman Sachs Group by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after acquiring an additional 161,133 shares during the period. Legal & General Group Plc lifted its holdings in The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in The Goldman Sachs Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after purchasing an additional 68,141 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of The Goldman Sachs Group by 0.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock valued at $494,187,000 after purchasing an additional 4,007 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is owned by insiders.

The Goldman Sachs Group Stock Up 0.0 %

Shares of NYSE GS opened at $603.03 on Tuesday. The company has a market cap of $189.30 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.88 and a beta of 1.35. The firm’s fifty day moving average is $531.87 and its 200 day moving average is $495.51. 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 Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $611.30.

The Goldman Sachs Group (NYSE:GS) last announced 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 business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the firm posted $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GS shares. JMP Securities increased their target price on 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. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Finally, UBS Group boosted their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group 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.