Deseret Mutual Benefit Administrators Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Deseret Mutual Benefit Administrators lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659 shares of the investment management company’s stock after selling 38 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in The Goldman Sachs Group were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Procyon Advisors LLC lifted its stake in 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 purchasing an additional 43 shares during the last quarter. Brookstone Capital Management grew its stake in shares of The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after acquiring an additional 761 shares during the period. Empowered Funds LLC increased its holdings in The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 2,428 shares during the last quarter. Duality Advisers LP bought a new stake in The Goldman Sachs Group in the 1st quarter valued at about $1,388,000. Finally, Axxcess Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after purchasing an additional 2,442 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 0.8 %

Shares of The Goldman Sachs Group stock opened at $591.00 on Thursday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72. The Goldman Sachs Group, Inc. has a 1 year low of $319.66 and a 1 year high of $598.60. The firm has a market cap of $186.64 billion, a PE ratio of 17.49, a PEG ratio of 0.74 and a beta of 1.35. The company has a 50 day simple moving average of $504.77 and a two-hundred day simple moving average of $480.57.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the firm posted $5.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts expect that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents 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 this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the subject of several recent research reports. Bank of America lifted their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Barclays increased their target price 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. JMP Securities lifted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $527.63.

About The Goldman Sachs Group

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.