Meridian Wealth Management LLC Purchases 96 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Meridian Wealth Management LLC increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.2% in the third quarter, Holdings Channel reports. The institutional investor owned 1,268 shares of the investment management company’s stock after buying an additional 96 shares during the period. Meridian Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GS. Acadian Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 407.2% during the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock worth $175,000 after buying an additional 338 shares in the last quarter. Elkhorn Partners Limited Partnership bought a new position in shares of The Goldman Sachs Group during the first quarter worth about $4,129,000. Ascent Group LLC grew its holdings in shares of The Goldman Sachs Group by 4.7% during the first quarter. Ascent Group LLC now owns 1,102 shares of the investment management company’s stock worth $460,000 after buying an additional 49 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in The Goldman Sachs Group by 0.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 21,375 shares of the investment management company’s stock valued at $8,928,000 after purchasing an additional 109 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in The Goldman Sachs Group by 1.8% during the first quarter. Janus Henderson Group PLC now owns 57,734 shares of the investment management company’s stock valued at $24,114,000 after purchasing an additional 1,002 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JMP Securities increased their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. UBS Group increased their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s 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 transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock worth $6,656,119 in the last 90 days. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $602.78 on Monday. The stock has a market cap of $189.22 billion, a P/E ratio of 17.69, a PEG ratio of 0.87 and a beta of 1.35. The stock has a 50 day simple moving average of $529.52 and a 200 day simple moving average of $494.47. 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, Inc. has a 1-year low of $334.87 and a 1-year high of $607.15.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The business 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 11.39% and a net margin of 9.89%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $5.47 EPS. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

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.