Claro Advisors LLC Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Claro Advisors LLC lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 21.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 849 shares of the investment management company’s stock after buying an additional 149 shares during the quarter. Claro Advisors LLC’s holdings in The Goldman Sachs Group were worth $420,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GS. Procyon Advisors LLC increased its stake in shares of The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management boosted its holdings in The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after acquiring an additional 761 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 25.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth $5,529,000. Finally, Bessemer Group Inc. increased its holdings in shares of The Goldman Sachs Group by 56.1% during the first quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after acquiring an additional 7,826 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JMP Securities increased their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays increased their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America boosted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Trading Down 0.9 %

Shares of NYSE:GS opened at $588.06 on Tuesday. The stock has a 50 day moving average of $520.09 and a 200 day moving average of $490.31. The company has a market cap of $184.60 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $334.55 and a 12-month high of $607.15. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted 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 business had revenue of $12.70 billion during 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 11.39%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.04%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Activity

In related news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.