Blue Trust Inc. increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 120.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,006 shares of the investment management company's stock after purchasing an additional 1,644 shares during the quarter. Blue Trust Inc.'s holdings in The Goldman Sachs Group were worth $1,360,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GS. Riverview Trust Co increased its stake in shares of The Goldman Sachs Group by 8.0% in the 3rd quarter. Riverview Trust Co now owns 661 shares of the investment management company's stock valued at $327,000 after buying an additional 49 shares during the period. Moss Adams Wealth Advisors LLC increased its position in shares of The Goldman Sachs Group by 40.5% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 722 shares of the investment management company's stock valued at $357,000 after buying an additional 208 shares in the last quarter. Net Worth Advisory Group acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth $916,000. OmniStar Financial Group Inc. bought a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at about $850,000. Finally, Aaron Wealth Advisors LLC lifted its stake in The Goldman Sachs Group by 26.3% in the third quarter. Aaron Wealth Advisors LLC now owns 1,512 shares of the investment management company's stock valued at $749,000 after buying an additional 315 shares in the last quarter. 71.21% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Barclays raised their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wolfe Research upgraded shares of The Goldman Sachs Group to a "hold" rating in a research note on Wednesday, September 18th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an "overweight" rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $524.69.
View Our Latest Report on GS
In related news, insider Brian J. Lee sold 2,000 shares of the company's stock in a transaction dated Thursday, October 17th. The shares were 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 $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.
Shares of GS stock opened at $528.50 on Friday. The stock has a 50-day moving average of $498.15 and a 200-day moving average of $469.46. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market cap of $170.42 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $540.51.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts' consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the firm posted $5.47 EPS. The company's quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.27%. The Goldman Sachs Group's payout ratio is 46.86%.
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.
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