Princeton Global Asset Management LLC Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Princeton Global Asset Management LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,061 shares of the investment management company’s stock after buying an additional 154 shares during the period. Princeton Global Asset Management LLC’s holdings in The Goldman Sachs Group were worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. POM Investment Strategies LLC purchased a new position in The Goldman Sachs Group in the second quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group in the second quarter valued at about $27,000. SJS Investment Consulting Inc. increased its holdings in 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 buying an additional 31 shares in the last quarter. Finally, West Branch Capital LLC purchased a new position in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $30,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 0.3 %

Shares of GS opened at $519.35 on Friday. The firm has a market cap of $164.01 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company’s fifty day moving average is $502.45 and its two-hundred day moving average is $477.61. The Goldman Sachs Group, Inc. has a fifty-two week low of $308.00 and a fifty-two week high of $540.51. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

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 for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $5.47 EPS. Analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued 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 2.31%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GS. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer raised their price objective on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group 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 transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

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.