Meritage Portfolio Management Sells 155 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Meritage Portfolio Management cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,822 shares of the investment management company’s stock after selling 155 shares during the period. Meritage Portfolio Management’s holdings in The Goldman Sachs Group were worth $7,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. POM Investment Strategies LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group during the second quarter worth $27,000. SJS Investment Consulting Inc. grew 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 worth $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC increased its stake in 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 owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Citigroup raised their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods upped their target price 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. Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $527.63.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 in the last quarter. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS stock traded up $7.09 during midday trading on Friday, hitting $589.26. The company’s stock had a trading volume of 2,713,956 shares, compared to its average volume of 2,268,716. The stock has a market cap of $184.97 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.87 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock’s 50-day moving average price is $507.79 and its 200 day moving average price is $482.47. The Goldman Sachs Group, Inc. has a 1 year low of $319.66 and a 1 year high of $598.60.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the firm earned $5.47 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current 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 paid 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 2.04%. The Goldman Sachs Group’s payout ratio is currently 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.