Ingalls & Snyder LLC Sells 5,655 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Ingalls & Snyder LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 12.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 40,210 shares of the investment management company’s stock after selling 5,655 shares during the period. Ingalls & Snyder LLC’s holdings in The Goldman Sachs Group were worth $19,908,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mizuho Securities USA LLC lifted its position in The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. FMR LLC boosted its position in The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after buying an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. boosted its position in The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after buying an additional 438,754 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in The Goldman Sachs Group by 878.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after buying an additional 356,512 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock worth $205,403,000 after purchasing an additional 251,972 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GS has been the topic of a number of research analyst reports. Evercore ISI upped their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price objective 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. Citigroup increased their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Bank of America raised their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price of $557.88.

The Goldman Sachs Group Stock Performance

GS stock traded up $5.63 during trading on Tuesday, reaching $607.34. The company had a trading volume of 253,764 shares, compared to its average volume of 2,206,934. The Goldman Sachs Group, Inc. has a twelve month low of $340.54 and a twelve month high of $612.73. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $190.65 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.88 and a beta of 1.38. The firm has a 50-day simple moving average of $540.94 and a 200-day simple moving average of $499.68.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the company earned $5.47 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is currently owned by insiders.

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.