ABLE Financial Group LLC Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

ABLE Financial Group LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 585 shares of the investment management company’s stock after selling 199 shares during the period. ABLE Financial Group LLC’s holdings in The Goldman Sachs Group were worth $290,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Legal & General Group Plc raised its position in The Goldman Sachs Group by 2.9% in the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of The Goldman Sachs Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after buying an additional 68,141 shares during the last quarter. Capital Wealth Planning LLC grew its holdings in shares of The Goldman Sachs Group by 0.3% during the first quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock valued at $498,472,000 after purchasing an additional 3,396 shares during the last quarter. Canada Pension Plan Investment Board increased its position in The Goldman Sachs Group by 34.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock valued at $381,598,000 after acquiring an additional 217,954 shares during the period. Finally, AMF Tjanstepension AB increased its position in shares of The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 1.6 %

Shares of NYSE:GS traded up $9.40 during midday trading on Friday, hitting $591.57. 747,308 shares of the company’s stock were exchanged, compared to its average volume of 2,220,859. The company has a market cap of $186.82 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72. The Goldman Sachs Group, Inc. has a 12 month low of $319.66 and a 12 month high of $598.60. The stock has a 50 day moving average price of $504.77 and a 200-day moving average price of $480.57.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $5.47 EPS. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 yield of 2.03%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. JMP Securities lifted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Barclays lifted 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. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley upped their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $527.63.

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.