Overbrook Management Corp Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Overbrook Management Corp lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,451 shares of the investment management company’s stock after selling 103 shares during the period. Overbrook Management Corp’s holdings in The Goldman Sachs Group were worth $2,204,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Citizens Financial Group Inc. RI lifted its position in shares of The Goldman Sachs Group by 9.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 41,501 shares of the investment management company’s stock valued at $20,548,000 after buying an additional 3,754 shares in the last quarter. Altman Advisors Inc. acquired a new position in The Goldman Sachs Group in the 3rd quarter valued at $2,101,000. Advisors Asset Management Inc. raised its stake in The Goldman Sachs Group by 1.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 39,404 shares of the investment management company’s stock valued at $19,509,000 after purchasing an additional 718 shares during the last quarter. Hilton Capital Management LLC raised its stake in The Goldman Sachs Group by 0.9% in the 3rd quarter. Hilton Capital Management LLC now owns 23,250 shares of the investment management company’s stock valued at $11,511,000 after purchasing an additional 217 shares during the last quarter. Finally, Strategy Asset Managers LLC acquired a new position in The Goldman Sachs Group in the 3rd quarter valued at $671,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $581.93 on Thursday. The business has a 50-day moving average of $524.58 and a 200 day moving average of $491.95. The Goldman Sachs Group, Inc. has a 12 month low of $334.55 and a 12 month high of $607.15. The stock has a market capitalization of $182.67 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced 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 company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the business posted $5.47 EPS. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 35.21%.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts recently commented on GS shares. Evercore ISI increased their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five research 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 a consensus rating of “Moderate Buy” and an average 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.