Wallace Capital Management Inc. Takes Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Wallace Capital Management Inc. purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 406 shares of the investment management company’s stock, valued at approximately $201,000.

Other hedge funds have also added to or reduced their stakes in the company. Stevens Capital Management LP purchased a new position in shares of The Goldman Sachs Group during the third quarter valued at approximately $1,051,000. Stifel Financial Corp lifted its position in shares of The Goldman Sachs Group by 6.3% during the third quarter. Stifel Financial Corp now owns 242,008 shares of the investment management company’s stock valued at $119,842,000 after purchasing an additional 14,413 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in The Goldman Sachs Group by 19.1% during the third quarter. SageView Advisory Group LLC now owns 2,181 shares of the investment management company’s stock worth $1,080,000 after purchasing an additional 349 shares during the last quarter. Quantinno Capital Management LP grew its position in The Goldman Sachs Group by 36.1% in the 3rd quarter. Quantinno Capital Management LP now owns 34,431 shares of the investment management company’s stock worth $17,048,000 after purchasing an additional 9,140 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in The Goldman Sachs Group by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 220,855 shares of the investment management company’s stock valued at $109,348,000 after buying an additional 4,980 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 0.3 %

Shares of GS opened at $597.21 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $341.60 and a fifty-two week high of $612.73. The firm has a market cap of $187.47 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.87 and a beta of 1.38. The firm has a 50 day moving average price of $549.26 and a 200-day moving average price of $502.93. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the firm 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, equities research analysts forecast 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. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research report on Tuesday. Hsbc Global Res cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Evercore ISI increased their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Finally, Barclays raised 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $557.88.

Insider Activity

In related news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the sale, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian J. Lee sold 2,000 shares of the 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 completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,940 shares of company stock valued at $13,717,979. Company insiders own 0.54% of the company’s stock.

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.