The Goldman Sachs Group, Inc. $GS Stock: Sterling Capital Management LLC Grows Holdings

Sterling Capital Management LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,901 shares of the investment management company’s stock after buying an additional 5,932 shares during the quarter. Sterling Capital Management LLC’s holdings in The Goldman Sachs Group were worth $22,420,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. TSA Wealth Managment LLC lifted its position in shares of The Goldman Sachs Group by 20.4% in the third quarter. TSA Wealth Managment LLC now owns 248 shares of the investment management company’s stock valued at $223,000 after acquiring an additional 42 shares in the last quarter. XXI Wealth LLC increased its position in shares of The Goldman Sachs Group by 8.0% during the third quarter. XXI Wealth LLC now owns 2,255 shares of the investment management company’s stock worth $2,030,000 after purchasing an additional 168 shares in the last quarter. BIP Wealth LLC increased its position in shares of The Goldman Sachs Group by 2.2% during the third quarter. BIP Wealth LLC now owns 1,518 shares of the investment management company’s stock worth $1,366,000 after purchasing an additional 33 shares in the last quarter. MBL Wealth LLC raised its stake in The Goldman Sachs Group by 23.5% in the 3rd quarter. MBL Wealth LLC now owns 2,929 shares of the investment management company’s stock valued at $2,637,000 after purchasing an additional 557 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in The Goldman Sachs Group in the 3rd quarter valued at $1,351,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Down 1.7%

The Goldman Sachs Group stock traded down $15.23 during trading on Friday, reaching $876.07. 1,781,312 shares of the company were exchanged, compared to its average volume of 2,316,316. The Goldman Sachs Group, Inc. has a 52-week low of $754.00 and a 52-week high of $1,153.99. The company has a market capitalization of $255.08 billion, a P/E ratio of 12.60, a PEG ratio of 0.84 and a beta of 1.29. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $959.69 and its two-hundred day simple moving average is $990.65.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The company had revenue of $18.68 billion for the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.25 earnings per share. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 70.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 28.76%.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Freedom Broker upgraded GS from “Hold” to “Buy” and set a $1,100 price target, implying approximately 25.6% upside from the referenced share price. However, the target was reduced from $1,200, which somewhat tempers the bullish signal. Freedom Broker upgrades Goldman Sachs to Buy
• Positive Sentiment: Goldman Sachs reported particularly strong equities performance in the third quarter, with net revenue rising 72% year over year to $6.44 billion. Robust client activity, financing demand and derivatives contributed to the result, supporting optimism about earnings momentum. Goldman Sachs equities revenue growth
• Positive Sentiment: Zacks upgraded Goldman Sachs to a Rank #2 (“Buy”), citing improving expectations for the company’s earnings prospects. Zacks upgrades Goldman Sachs to Buy

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GS. Royal Bank Of Canada decreased their price objective on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 14th. Keefe, Bruyette & Woods dropped their target price on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a report on Wednesday, October 14th. Barclays increased their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $1,052.48.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.