Lewis Asset Management LLC Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Lewis Asset Management LLC grew its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,488 shares of the investment management company’s stock after buying an additional 180 shares during the quarter. Lewis Asset Management LLC’s holdings in The Goldman Sachs Group were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Procyon Advisors LLC grew its holdings in The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after acquiring an additional 43 shares in the last quarter. Brookstone Capital Management increased its holdings in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares during the period. Empowered Funds LLC raised its stake in The Goldman Sachs Group by 62.7% in the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after buying an additional 2,428 shares in the last quarter. Duality Advisers LP bought a new position in The Goldman Sachs Group in the first quarter worth approximately $1,388,000. Finally, Axxcess Wealth Management LLC boosted its position in The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after acquiring an additional 2,442 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $582.16 on Friday. The company has a market cap of $183.85 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.74 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The Goldman Sachs Group, Inc. has a twelve month low of $319.66 and a twelve month high of $598.60. The company’s 50-day moving average price is $504.77 and its 200-day moving average price is $480.57.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate 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 return on equity of 11.05% and a net margin of 9.89%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.47 earnings per share. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company 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 dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.06%. The Goldman Sachs Group’s payout ratio is 35.21%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GS shares. Citigroup upped their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $527.63.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 10,095 shares in the company, valued at $5,359,435.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

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.