KG&L Capital Management LLC Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

KG&L Capital Management LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,914 shares of the investment management company’s stock after purchasing an additional 193 shares during the period. The Goldman Sachs Group comprises 1.1% of KG&L Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. KG&L Capital Management LLC’s holdings in The Goldman Sachs Group were worth $3,398,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Square Asset Management LLC increased its position in The Goldman Sachs Group by 4.0% during the third quarter. Blue Square Asset Management LLC now owns 6,493 shares of the investment management company’s stock worth $3,215,000 after buying an additional 252 shares in the last quarter. Angeles Wealth Management LLC purchased a new position in The Goldman Sachs Group during the third quarter worth $253,000. Van ECK Associates Corp increased its position in The Goldman Sachs Group by 1.2% during the third quarter. Van ECK Associates Corp now owns 6,157 shares of the investment management company’s stock worth $3,184,000 after buying an additional 71 shares in the last quarter. Janney Montgomery Scott LLC increased its position in The Goldman Sachs Group by 18.3% during the third quarter. Janney Montgomery Scott LLC now owns 119,239 shares of the investment management company’s stock worth $59,037,000 after buying an additional 18,429 shares in the last quarter. Finally, New Covenant Trust Company N.A. boosted its holdings in shares of The Goldman Sachs Group by 10.3% during the third quarter. New Covenant Trust Company N.A. now owns 525 shares of the investment management company’s stock worth $262,000 after purchasing an additional 49 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GS shares. Keefe, Bruyette & Woods raised their price objective 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. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. 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 company has an average rating of “Moderate Buy” and a consensus price target of $524.69.

Insider Activity at The Goldman Sachs Group

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 completion of the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Up 0.3 %

Shares of NYSE GS opened at $519.35 on Monday. The Goldman Sachs Group, Inc. has a 1 year low of $308.00 and a 1 year high of $540.51. The firm has a market cap of $164.01 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.72 and a current ratio of 1.11. The stock’s 50-day simple moving average is $502.45 and its 200-day simple moving average is $478.13.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.47 earnings per share. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

The Goldman Sachs Group Company 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.