Hilton Capital Management LLC Raises Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Hilton Capital Management LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,250 shares of the investment management company’s stock after acquiring an additional 217 shares during the period. Hilton Capital Management LLC’s holdings in The Goldman Sachs Group were worth $11,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC lifted its stake in The Goldman Sachs Group by 30,068.9% in 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 period. Legal & General Group Plc lifted its stake in shares of The Goldman Sachs Group by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of The Goldman Sachs Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in The Goldman Sachs Group by 0.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock worth $494,187,000 after purchasing an additional 4,007 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in The Goldman Sachs Group by 34.8% in the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock worth $381,598,000 after purchasing an additional 217,954 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 1.2 %

GS stock opened at $581.19 on Wednesday. The business’s 50-day moving average price is $522.37 and its 200-day moving average price is $491.32. The stock has a market cap of $182.44 billion, a P/E ratio of 17.05, a PEG ratio of 0.86 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a twelve month low of $334.55 and a twelve month high of $607.15.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.47 earnings per share. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GS shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JMP Securities upped their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Oppenheimer boosted their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $535.75.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a 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 that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,390 shares of company stock worth $6,656,119. 0.57% of the stock is owned by corporate insiders.

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.