Sunbelt Securities Inc. Increases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Sunbelt Securities Inc. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 905 shares of the investment management company’s stock after buying an additional 47 shares during the quarter. Sunbelt Securities Inc.’s holdings in The Goldman Sachs Group were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Procyon Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after acquiring an additional 43 shares in the last quarter. Brookstone Capital Management raised its stake in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in The Goldman Sachs Group during the second quarter valued at $5,529,000. Fisher Asset Management LLC grew its stake in shares of 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 worth $2,991,772,000 after buying an additional 161,133 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of The Goldman Sachs Group by 129.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,709 shares of the investment management company’s stock worth $11,739,000 after buying an additional 13,398 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Citigroup raised their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Bank of America boosted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays raised their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $559.75.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the transaction, the chief executive officer now owns 117,883 shares of the company’s stock, valued at $72,015,903.53. The trade was a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock valued at $13,717,979 over the last three months. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $585.41 on Friday. The company’s 50-day simple moving average is $561.07 and its two-hundred day simple moving average is $508.29. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $365.00 and a one year high of $612.73. The company has a market capitalization of $183.77 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.86 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $5.47 EPS. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.05%. The Goldman Sachs Group’s payout ratio is currently 35.21%.

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.