Signature Estate & Investment Advisors LLC Has $687,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Signature Estate & Investment Advisors LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,389 shares of the investment management company’s stock after selling 330 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in The Goldman Sachs Group were worth $687,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Procyon Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after purchasing an additional 2,442 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at about $5,529,000. Finally, Bessemer Group Inc. lifted its holdings in shares of The Goldman Sachs Group by 56.1% during the 1st quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after purchasing an additional 7,826 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. 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 report on Wednesday, October 16th. Oppenheimer boosted their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays boosted their target price 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. Finally, Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Price Performance

GS stock opened at $593.51 on Friday. The firm has a 50 day moving average of $518.10 and a 200-day moving average of $488.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm 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 12 month low of $334.55 and a 12 month high of $607.15.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $5.47 earnings per share. As a group, 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. 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 2.02%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,390 shares of company stock valued at $6,656,119. Corporate 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.