The Goldman Sachs Group, Inc. $GS Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,725 shares of the investment management company’s stock after selling 8,391 shares during the quarter. Wedge Capital Management L L P NC’s holdings in The Goldman Sachs Group were worth $39,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Winthrop Advisory Group LLC increased its stake in shares of The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after acquiring an additional 14 shares during the last quarter. Avion Wealth grew its holdings in The Goldman Sachs Group by 31.1% in the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 14 shares during the period. KPP Advisory Services LLC grew its holdings in The Goldman Sachs Group by 2.1% in the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after purchasing an additional 14 shares during the period. FAS Wealth Partners Inc. increased its position in The Goldman Sachs Group by 2.2% during the second quarter. FAS Wealth Partners Inc. now owns 653 shares of the investment management company’s stock worth $462,000 after purchasing an additional 14 shares during the last quarter. Finally, Ignite Planners LLC raised its stake in The Goldman Sachs Group by 4.2% during the third quarter. Ignite Planners LLC now owns 351 shares of the investment management company’s stock worth $280,000 after purchasing an additional 14 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Stores Impacting The Goldman Sachs Group

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

The Goldman Sachs Group Trading Up 2.0%

NYSE:GS opened at $893.83 on Friday. The business’s 50-day moving average is $810.10 and its two-hundred day moving average is $753.88. The firm has a market capitalization of $268.09 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $919.10. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.65 and a quick ratio of 0.65.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The company had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter in the prior year, the business earned $8.40 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 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 Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Analyst Ratings Changes

A number of equities analysts have weighed in on GS shares. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Royal Bank Of Canada lifted their target price on The Goldman Sachs Group from $843.00 to $900.00 and gave the company a “sector perform” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Monday, December 15th. Evercore ISI raised their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, BMO Capital Markets started coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a “market perform” rating and a $785.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $792.67.

Get Our Latest Stock Analysis on The Goldman Sachs Group

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

See Also

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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