Private Advisory Group LLC Sells 1,401 Shares of The Goldman Sachs Group, Inc. $GS

Private Advisory Group LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 10.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,287 shares of the investment management company’s stock after selling 1,401 shares during the period. Private Advisory Group LLC’s holdings in The Goldman Sachs Group were worth $9,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in The Goldman Sachs Group in the 3rd quarter valued at $26,000. First PREMIER Bank acquired a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth $28,000. Corundum Trust Company INC bought a new position in shares of The Goldman Sachs Group in the third quarter worth $29,000. Clearstead Trust LLC acquired a new stake in The Goldman Sachs Group during the second quarter worth about $31,000. Finally, Elevation Wealth Partners LLC increased its stake in The Goldman Sachs Group by 100.0% in the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock valued at $32,000 after acquiring an additional 20 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GS. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $971.00 to $1,000.00 and gave the stock a “market perform” rating in a research note on Friday, January 16th. Argus boosted their price target on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a report on Friday, January 16th. HSBC raised their price objective on The Goldman Sachs Group from $742.00 to $802.00 in a research note on Friday, February 6th. Bank of America lifted their target price on The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Finally, Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $970.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $916.86.

Get Our Latest Research Report on The Goldman Sachs Group

The Goldman Sachs Group Stock Up 0.6%

Shares of GS opened at $922.03 on Monday. The stock’s 50-day moving average price is $922.42 and its two-hundred day moving average price is $831.56. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $984.70. The company has a market capitalization of $276.54 billion, a PE ratio of 17.98, a PEG ratio of 1.13 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.29.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $11.95 earnings per share. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s dividend payout ratio is presently 31.20%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director David A. Viniar sold 45,000 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $965.33, for a total value of $43,439,850.00. Following the completion of the sale, the director directly owned 555,000 shares in the company, valued at approximately $535,758,150. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 11,623 shares of The Goldman Sachs Group stock in a transaction on Monday, February 9th. The shares were sold at an average price of $941.57, for a total transaction of $10,943,868.11. Following the completion of the sale, the chief financial officer directly owned 29,342 shares of the company’s stock, valued at approximately $27,627,546.94. This trade represents a 28.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 117,283 shares of company stock valued at $112,016,033 over the last 90 days. Insiders own 0.55% of the company’s stock.

About The Goldman Sachs Group

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

Further Reading

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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