Montecito Bank & Trust Decreases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Montecito Bank & Trust trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,309 shares of the investment management company’s stock after selling 34 shares during the period. Montecito Bank & Trust’s holdings in The Goldman Sachs Group were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at approximately $220,000. FDx Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the first quarter worth $226,000. Csenge Advisory Group lifted its position in shares of The Goldman Sachs Group by 8.5% in the first quarter. Csenge Advisory Group now owns 1,568 shares of the investment management company’s stock valued at $655,000 after acquiring an additional 123 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of The Goldman Sachs Group by 4.8% during the first quarter. Manchester Capital Management LLC now owns 1,007 shares of the investment management company’s stock valued at $421,000 after acquiring an additional 46 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in The Goldman Sachs Group by 10.8% during the 1st quarter. Advisory Services Network LLC now owns 9,879 shares of the investment management company’s stock worth $4,126,000 after purchasing an additional 964 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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 that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Trading Up 13.1 %

Shares of GS stock opened at $595.98 on Thursday. The Goldman Sachs Group, Inc. has a fifty-two week low of $319.66 and a fifty-two week high of $598.60. The firm’s 50 day moving average price is $504.77 and its two-hundred day moving average price is $480.57. The stock has a market cap of $188.21 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

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 for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the company earned $5.47 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.01%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GS. JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised their target price 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. 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 note on Tuesday, July 30th. Morgan Stanley raised their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $527.63.

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.