BIP Wealth LLC Acquires New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

BIP Wealth LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 459 shares of the investment management company’s stock, valued at approximately $227,000.

Other institutional investors have also added to or reduced their stakes in the company. Caprock Group LLC lifted its position in shares of The Goldman Sachs Group by 52.9% in the 3rd quarter. Caprock Group LLC now owns 27,864 shares of the investment management company’s stock worth $13,796,000 after purchasing an additional 9,645 shares during the period. Wharton Business Group LLC raised its stake in The Goldman Sachs Group by 16.4% in the third quarter. Wharton Business Group LLC now owns 68,412 shares of the investment management company’s stock worth $33,872,000 after buying an additional 9,635 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 3.9% during the third quarter. Drive Wealth Management LLC now owns 897 shares of the investment management company’s stock worth $444,000 after buying an additional 34 shares during the period. Mendel Capital Management LLC boosted its position in The Goldman Sachs Group by 7.8% during the 3rd quarter. Mendel Capital Management LLC now owns 1,441 shares of the investment management company’s stock valued at $714,000 after acquiring an additional 104 shares in the last quarter. Finally, Aviso Wealth Management increased its holdings in shares of The Goldman Sachs Group by 1.5% in the 3rd quarter. Aviso Wealth Management now owns 2,684 shares of the investment management company’s stock valued at $1,329,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 1.2 %

Shares of NYSE:GS opened at $581.19 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15. The stock has a market cap of $182.44 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.86 and a beta of 1.35. The business has a 50-day moving average price of $522.37 and a 200-day moving average price of $491.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion during 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 Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $5.47 EPS. Equities analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared 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. This represents a $12.00 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JMP Securities raised their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, 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 report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $535.75.

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.