Seelaus Asset Management LLC Lowers Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Seelaus Asset Management LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 644 shares of the investment management company’s stock after selling 141 shares during the quarter. Seelaus Asset Management LLC’s holdings in The Goldman Sachs Group were worth $319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GS. Procyon Advisors LLC lifted its position in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares during the period. Brookstone Capital Management lifted its holdings in shares of The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares during the period. Axxcess Wealth Management LLC grew its holdings in The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares during the period. Granite Bay Wealth Management LLC purchased a new position in The Goldman Sachs Group in the second quarter worth $5,529,000. Finally, Bessemer Group Inc. lifted its holdings in The Goldman Sachs Group by 56.1% in the first quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after acquiring an additional 7,826 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of the business’s 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 transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the 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 completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GS shares. Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer upped their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Barclays boosted their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Price Performance

GS stock opened at $593.51 on Friday. The stock has a market capitalization of $186.31 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The stock’s fifty day simple moving average is $518.10 and its 200-day simple moving average is $488.35. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15. 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 (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company 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 business earned $5.47 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 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.