Okabena Investment Services Inc. Decreases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Okabena Investment Services Inc. trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,644 shares of the investment management company’s stock after selling 662 shares during the quarter. Okabena Investment Services Inc.’s holdings in The Goldman Sachs Group were worth $1,309,000 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 GS. Mizuho Securities USA LLC grew its holdings in shares of The Goldman Sachs Group by 30,068.9% during 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 buying an additional 7,475,140 shares during the last quarter. Legal & General Group Plc lifted its position 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 worth $1,257,602,000 after acquiring an additional 77,700 shares during the period. Dimensional Fund Advisors LP grew its stake in The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares during the last quarter. 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 period. Finally, Canada Pension Plan Investment Board raised its stake in shares of The Goldman Sachs Group by 34.8% in the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock worth $381,598,000 after purchasing an additional 217,954 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the 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 owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % 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, insider Brian J. Lee sold 2,000 shares of the firm’s 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 directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock valued at $6,656,119 over the last ninety days. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $602.78 on Friday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day moving average of $529.52 and a 200 day moving average of $494.13. The firm has a market cap of $189.22 billion, a PE ratio of 17.69, a PEG ratio of 0.87 and a beta of 1.35. The Goldman Sachs Group, Inc. has a one year low of $334.87 and a one year high of $607.15.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the business earned $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price 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. Keefe, Bruyette & Woods increased their price objective on shares of 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. Citigroup raised their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer upped their price target on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley boosted their price objective on The Goldman Sachs Group from $560.00 to $570.00 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $542.00.

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.