Zions Bancorporation N.A. Sells 35 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Zions Bancorporation N.A. lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 257 shares of the investment management company’s stock after selling 35 shares during the quarter. Zions Bancorporation N.A.’s holdings in The Goldman Sachs Group were worth $127,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at about $27,000. SJS Investment Consulting Inc. boosted its holdings in 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 valued at $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC increased its stake in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after acquiring an additional 63 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was 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 directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock 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 company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Finally, JMP Securities increased 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 research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $535.75.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $593.51 on Friday. The firm has a market capitalization of $186.31 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $334.55 and a 12-month high of $607.15. The firm has a 50-day moving average price of $515.82 and a 200-day moving average price of $487.22. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

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, beating analysts’ consensus estimates 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 firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the firm posted $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 forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend 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.