Coastline Trust Co Sells 1,025 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Coastline Trust Co cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 42.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,365 shares of the investment management company’s stock after selling 1,025 shares during the quarter. Coastline Trust Co’s holdings in The Goldman Sachs Group were worth $676,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GS. AMF Tjanstepension AB boosted its holdings in The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after purchasing an additional 438,754 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after buying an additional 356,512 shares during the period. Swedbank AB bought a new position in The Goldman Sachs Group during the first quarter worth $137,134,000. Finally, Third Point LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at $104,422,000. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction 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 sale, the executive vice president now directly owns 57,614 shares in the company, valued at $34,358,685.04. The trade was a 10.02 % decrease in their position. The transaction 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 stock in a transaction dated 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 transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays boosted their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, JMP Securities boosted 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average price target of $535.75.

The Goldman Sachs Group Price Performance

GS stock opened at $593.51 on Friday. 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 business has a 50-day simple moving average of $518.10 and a two-hundred day simple moving average of $488.35. The company has a market capitalization of $186.31 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.47 earnings per share. Research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company 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 dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

The Goldman Sachs Group 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.