B. Riley Wealth Advisors Inc. Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

B. Riley Wealth Advisors Inc. trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 28.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,232 shares of the investment management company’s stock after selling 5,193 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The Goldman Sachs Group were worth $6,525,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GS. Procyon Advisors LLC raised its position 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 valued at $411,000 after buying an additional 43 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of 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 during the period. Granite Bay Wealth Management LLC purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at about $5,529,000. Fisher Asset Management LLC grew its stake in The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after purchasing an additional 161,133 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of The Goldman Sachs Group during the 3rd quarter worth $911,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $585.48 on Friday. The business has a 50 day simple moving average of $561.07 and a two-hundred day simple moving average of $508.63. 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 stock has a market capitalization of $183.79 billion, a P/E ratio of 17.18, a PEG ratio of 0.86 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12 month low of $365.00 and a 12 month high of $612.73.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $5.47 EPS. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 37.06 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. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.05%. The Goldman Sachs Group’s payout ratio is 35.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GS shares. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Bank of America boosted their price target on 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. Oppenheimer upped their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Barclays lifted their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $559.75.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the completion of the transaction, the director now owns 608,425 shares in the company, valued at $372,404,774. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 dated 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 in the company, 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 worth $13,717,979. Insiders own 0.54% of the company’s stock.

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.