Fiduciary Trust Co Grows Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Fiduciary Trust Co increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,926 shares of the investment management company’s stock after purchasing an additional 305 shares during the period. Fiduciary Trust Co’s holdings in The Goldman Sachs Group were worth $13,826,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Procyon Advisors LLC boosted its position in The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after acquiring an additional 43 shares in the last quarter. Brookstone Capital Management boosted its position in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in The Goldman Sachs Group in the second quarter valued at about $5,529,000. Wedge Capital Management L L P NC raised its holdings in The Goldman Sachs Group by 3.1% in the second quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after purchasing an additional 2,993 shares in the last quarter. Finally, PGGM Investments lifted its position in shares of The Goldman Sachs Group by 341.8% during the first quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock valued at $4,815,000 after buying an additional 8,918 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America raised their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the company from $569.00 to $608.00 in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on 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. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $550.63.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 in the last ninety days. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $605.42 on Thursday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company’s fifty day moving average price is $536.69 and its 200 day moving average price is $497.33. The stock has a market capitalization of $190.05 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1 year low of $334.87 and a 1 year high of $612.25.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the company earned $5.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.98%. The Goldman Sachs Group’s payout ratio is 35.21%.

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.