Sawgrass Asset Management LLC Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Sawgrass Asset Management LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,331 shares of the investment management company’s stock after selling 65 shares during the quarter. Sawgrass Asset Management LLC’s holdings in The Goldman Sachs Group were worth $2,639,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GS. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its stake in The Goldman Sachs Group by 103.3% in 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 during the period. Finally, Quest Partners LLC boosted its holdings in The Goldman Sachs Group by 6,300.0% in the second 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. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the subject of several research reports. Barclays upped their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, UBS Group raised their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $535.75.

The Goldman Sachs Group Price Performance

GS opened at $593.54 on Friday. The firm has a market cap of $186.32 billion, a PE ratio of 17.42, a P/E/G ratio of 0.86 and a beta of 1.35. The stock has a 50-day moving average price of $518.10 and a 200-day moving average price of $488.78. The Goldman Sachs Group, Inc. has a 1 year low of $334.55 and a 1 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 Goldman Sachs Group (NYSE:GS) last issued its 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 Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts predict 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 disclosed 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 2.02%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s 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 sale, the chief accounting officer now directly owns 8,489 shares in the company, 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. In the last three months, insiders have sold 11,390 shares of company stock worth $6,656,119. Insiders own 0.54% of the company’s stock.

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.