First Horizon Advisors Inc. Decreases Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

First Horizon Advisors Inc. lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,814 shares of the investment management company’s stock after selling 165 shares during the period. First Horizon Advisors Inc.’s holdings in The Goldman Sachs Group were worth $899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group during the 2nd quarter worth $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group during the second quarter worth $27,000. SJS Investment Consulting Inc. boosted its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Quest Partners LLC raised its position in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after acquiring an additional 63 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America upped their target price on 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. Morgan Stanley upped their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Citigroup raised their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday. 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 has an average rating of “Moderate Buy” and a consensus price target of $542.00.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the business’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 sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 16.54 % 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. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Up 2.6 %

Shares of GS opened at $597.01 on Friday. The company has a market capitalization of $187.41 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.84 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1-year low of $334.87 and a 1-year high of $607.15. The firm’s 50 day simple moving average is $527.04 and its 200 day simple moving average is $492.68.

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

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

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.