Rakuten Securities Inc. Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Rakuten Securities Inc. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,170 shares of the investment management company’s stock after selling 203 shares during the period. The Goldman Sachs Group accounts for 0.7% of Rakuten Securities Inc.’s portfolio, making the stock its 29th biggest position. Rakuten Securities Inc.’s holdings in The Goldman Sachs Group were worth $1,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group during the second quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. increased its stake in shares of The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in The Goldman Sachs Group by 6,300.0% in the second 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. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $602.34 on Tuesday. The stock has a 50-day moving average price of $509.63 and a 200 day moving average price of $484.59. The stock has a market capitalization of $189.08 billion, a P/E ratio of 17.67, a P/E/G ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $323.53 and a 12-month high of $607.15. The company has a current ratio of 0.67, a quick ratio of 0.72 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the business posted $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 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. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Barclays raised their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup upped their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $527.63.

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.