Biltmore Family Office LLC Trims Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Biltmore Family Office LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,533 shares of the investment management company’s stock after selling 97 shares during the period. Biltmore Family Office LLC’s holdings in The Goldman Sachs Group were worth $759,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Mizuho Securities USA LLC raised its holdings in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. Legal & General Group Plc increased its position in The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after purchasing an additional 77,700 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in The Goldman Sachs Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in The Goldman Sachs Group by 0.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock valued at $494,187,000 after purchasing an additional 4,007 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of The Goldman Sachs Group by 34.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock worth $381,598,000 after purchasing an additional 217,954 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $597.01 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $187.41 billion, a P/E ratio of 17.52, a PEG ratio of 0.84 and a beta of 1.35. The firm has a fifty day moving average of $527.04 and a 200-day moving average of $492.68. The Goldman Sachs Group, Inc. has a 52-week low of $334.87 and a 52-week high of $607.15.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the company posted $5.47 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS 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. This represents a $12.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Analyst Upgrades and Downgrades

GS has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Citigroup lifted their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday. Evercore ISI upped their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer raised their price target on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $542.00.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction 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 trade represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 over the last 90 days. 0.54% of the stock is owned by corporate 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.