Miller Howard Investments Inc. NY lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,916 shares of the investment management company’s stock after selling 15,498 shares during the period. The Goldman Sachs Group comprises about 2.0% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 17th largest holding. Miller Howard Investments Inc. NY owned 0.05% of The Goldman Sachs Group worth $55,303,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Pacific Center for Financial Services bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $33,000. Worth Asset Management LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $33,000. First Capital Advisors Group LLC. bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $34,000. PCA Investment Advisory Services Inc. bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $34,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 140.0% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 120 shares of the investment management company’s stock valued at $39,000 after acquiring an additional 70 shares during the period. Institutional investors own 69.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $329.00 to $333.00 and gave the company an “equal weight” rating in a research report on Monday, December 4th. HSBC initiated coverage on shares of The Goldman Sachs Group in a research report on Thursday, September 7th. They issued a “buy” rating and a $403.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $440.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, October 18th. Oppenheimer raised their target price on shares of The Goldman Sachs Group from $447.00 to $468.00 and gave the stock an “outperform” rating in a research note on Thursday, November 16th. Finally, StockNews.com initiated coverage on shares of The Goldman Sachs Group in a research note on Thursday, October 5th. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average price target of $393.99.
Read Our Latest Research Report on The Goldman Sachs Group
The Goldman Sachs Group Stock Performance
The Goldman Sachs Group stock traded up $0.59 during midday trading on Tuesday, hitting $381.24. The company’s stock had a trading volume of 200,796 shares, compared to its average volume of 2,355,613. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $386.20. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50-day moving average price of $335.55 and a two-hundred day moving average price of $332.10. The company has a market cap of $124.33 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.26 and a beta of 1.44.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Tuesday, October 17th. The investment management company reported $5.47 EPS for the quarter, beating the consensus estimate of $5.42 by $0.05. The company had revenue of $11.82 billion during the quarter, compared to analysts’ expectations of $11.15 billion. The Goldman Sachs Group had a net margin of 7.77% and a return on equity of 7.37%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $8.25 EPS. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 22.73 earnings per share for the current year.
The Goldman Sachs Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be given a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Wednesday, November 29th. The Goldman Sachs Group’s payout ratio is presently 53.24%.
Insider Activity
In other news, major shareholder Goldman Sachs Group Inc sold 72,874 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $0.71, for a total value of $51,740.54. Following the completion of the transaction, the insider now directly owns 397,954 shares in the company, valued at approximately $282,547.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Goldman Sachs Group Inc sold 72,874 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $0.71, for a total transaction of $51,740.54. Following the sale, the insider now directly owns 397,954 shares of the company’s stock, valued at approximately $282,547.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ericka T. Leslie sold 1,376 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $335.15, for a total transaction of $461,166.40. Following the sale, the insider now directly owns 10,471 shares in the company, valued at $3,509,355.65. The disclosure for this sale can be found here. 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 resale agreements.
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