Naviter Wealth LLC Sells 525 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Naviter Wealth LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,035 shares of the investment management company’s stock after selling 525 shares during the quarter. Naviter Wealth LLC’s holdings in The Goldman Sachs Group were worth $1,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $2.35 during trading on Thursday, reaching $532.21. The stock had a trading volume of 115,585 shares, compared to its average volume of 2,211,517. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $540.51. The stock has a market cap of $171.62 billion, a PE ratio of 20.69, a PEG ratio of 0.77 and a beta of 1.36. The business has a fifty day moving average price of $496.53 and a 200-day moving average price of $467.83.

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, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.47 EPS. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Analysts Set New Price Targets

Several research firms recently weighed in on GS. UBS Group lifted their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America increased their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Oppenheimer lifted their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group 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.