Northwest & Ethical Investments L.P. Sells 18,657 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Northwest & Ethical Investments L.P. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 71.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,287 shares of the investment management company’s stock after selling 18,657 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in The Goldman Sachs Group were worth $3,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GS. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group in the second quarter valued at $26,000. Headlands Technologies LLC purchased a new position in shares of The Goldman Sachs Group in the second quarter valued at $27,000. SJS Investment Consulting Inc. grew its holdings in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 0.0 %

The Goldman Sachs Group stock opened at $605.43 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $612.25. The company has a market capitalization of $190.05 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The stock has a 50-day moving average price of $538.72 and a 200 day moving average price of $498.08. 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 (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the company posted $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Wall Street Analyst Weigh In

GS has been the subject of a number of analyst reports. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $569.00 to $608.00 in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group lifted their target price on 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. Finally, Morgan Stanley lifted their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $550.63.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred on 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 directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock valued at $6,656,119 in the last three months. 0.54% of the stock is currently owned by company insiders.

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.