Concentric Wealth Management LLC Has $3.70 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Concentric Wealth Management LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,479 shares of the investment management company’s stock after selling 209 shares during the quarter. Concentric Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $3,703,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GS. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its position in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Quest Partners LLC lifted its position 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 valued at $29,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $602.78 on Monday. The business has a 50-day simple moving average of $529.52 and a 200 day simple moving average of $494.47. The Goldman Sachs Group, Inc. has a one year low of $334.87 and a one year high of $607.15. 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 firm has a market capitalization of $189.22 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the company posted $5.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 1.99%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on GS shares. JPMorgan Chase & Co. boosted their price target 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. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JMP Securities raised their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Barclays lifted their target price on 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. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

The Goldman Sachs Group Company Profile

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.