Aviance Capital Partners LLC Reduces Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Aviance Capital Partners LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,776 shares of the investment management company’s stock after selling 64 shares during the quarter. Aviance Capital Partners LLC’s holdings in The Goldman Sachs Group were worth $2,854,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GS. Mizuho Securities USA LLC lifted its holdings in shares of The Goldman Sachs Group by 30,068.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the last quarter. Legal & General Group Plc lifted its stake in The Goldman Sachs Group by 2.9% in the second 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 buying an additional 77,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in The Goldman Sachs Group by 3.3% in 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 buying an additional 68,141 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of The Goldman Sachs Group by 0.4% during 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 acquiring an additional 4,007 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of The Goldman Sachs Group by 34.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock valued at $381,598,000 after acquiring an additional 217,954 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 0.9 %

NYSE:GS opened at $588.06 on Tuesday. 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 company has a market cap of $184.60 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The business has a 50 day moving average price of $520.09 and a two-hundred day moving average price of $490.31.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $5.47 earnings per share. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm 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 dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This represents a 10.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents 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 valued at $6,656,119. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

GS has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday. 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 report on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price target 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. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $535.75.

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.