Retirement Systems of Alabama Has $94.11 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Retirement Systems of Alabama reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 190,074 shares of the investment management company’s stock after selling 13,679 shares during the quarter. Retirement Systems of Alabama owned 0.06% of The Goldman Sachs Group worth $94,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new position in The Goldman Sachs Group in the third quarter valued at about $2,161,000. Franklin Resources Inc. raised its position in shares of The Goldman Sachs Group by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock worth $898,428,000 after acquiring an additional 62,246 shares in the last quarter. Synovus Financial Corp increased its stake in The Goldman Sachs Group by 4.7% in the third quarter. Synovus Financial Corp now owns 15,998 shares of the investment management company’s stock valued at $7,920,000 after purchasing an additional 724 shares in the last quarter. Tidal Investments LLC raised its stake in The Goldman Sachs Group by 6.3% during the 3rd quarter. Tidal Investments LLC now owns 11,691 shares of the investment management company’s stock worth $5,788,000 after buying an additional 688 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of The Goldman Sachs Group by 18.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,563 shares of the investment management company’s stock valued at $4,240,000 after acquiring an additional 1,351 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group raised their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI increased their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $559.75.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock valued at $13,717,979 over the last quarter. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $593.23 on Friday. 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 stock has a 50-day moving average price of $559.27 and a 200-day moving average price of $507.43. The company has a market cap of $186.22 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12-month low of $365.00 and a 12-month high of $612.73.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.47 EPS. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is 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.