Public Employees Retirement System of Ohio Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Public Employees Retirement System of Ohio lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 140,896 shares of the investment management company’s stock after selling 913 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in The Goldman Sachs Group were worth $69,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GS. RFG Advisory LLC lifted its holdings in The Goldman Sachs Group by 29.9% during the 2nd quarter. RFG Advisory LLC now owns 3,119 shares of the investment management company’s stock worth $1,411,000 after purchasing an additional 718 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in The Goldman Sachs Group by 9.5% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,186 shares of the investment management company’s stock worth $1,441,000 after purchasing an additional 277 shares in the last quarter. LVW Advisors LLC lifted its holdings in The Goldman Sachs Group by 17.6% during the 2nd quarter. LVW Advisors LLC now owns 1,339 shares of the investment management company’s stock worth $606,000 after purchasing an additional 200 shares in the last quarter. Friedenthal Financial purchased a new stake in The Goldman Sachs Group during the 2nd quarter worth about $52,000. Finally, Diversified Trust Co lifted its holdings in The Goldman Sachs Group by 12.7% during the 2nd quarter. Diversified Trust Co now owns 9,738 shares of the investment management company’s stock worth $4,405,000 after purchasing an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $599.68 on Monday. The stock has a 50-day simple moving average of $551.28 and a two-hundred day simple moving average of $504.41. The Goldman Sachs Group, Inc. has a 52-week low of $342.00 and a 52-week high of $612.73. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $188.25 billion, a PE ratio of 17.60, a P/E/G ratio of 0.87 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter 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. Analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current 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 given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.00%. The Goldman Sachs Group’s payout ratio is 35.21%.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent analyst reports. Evercore ISI raised their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer raised their price target 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. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Barclays raised their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $559.75.

Insider Activity

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,940 shares of company stock worth $13,717,979 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Company 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.