Harvest Portfolios Group Inc. Decreases Position in The Goldman Sachs Group, Inc. $GS

by · The Cerbat Gem

Harvest Portfolios Group Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 10.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,604 shares of the investment management company’s stock after selling 1,097 shares during the period. Harvest Portfolios Group Inc.’s holdings in The Goldman Sachs Group were worth $6,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nvwm LLC lifted its position in shares of The Goldman Sachs Group by 2.2% during the second quarter. Nvwm LLC now owns 1,004 shares of the investment management company’s stock worth $711,000 after purchasing an additional 22 shares in the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in The Goldman Sachs Group by 6.1% during the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 557 shares of the investment management company’s stock valued at $394,000 after purchasing an additional 32 shares in the last quarter. Ipsen Advisor Group LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter worth $660,000. Bryn Mawr Trust Advisors LLC lifted its holdings in The Goldman Sachs Group by 1.7% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,488 shares of the investment management company’s stock worth $3,884,000 after buying an additional 91 shares in the last quarter. Finally, Paulson Wealth Management Inc. purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at about $205,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GS shares. Barclays lifted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. BMO Capital Markets assumed coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a “market perform” rating and a $785.00 price objective on the stock. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Royal Bank Of Canada reiterated a “neutral” rating and set a $843.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. Finally, Daiwa Capital Markets lifted their price target on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and a consensus price target of $779.50.

Check Out Our Latest Analysis on The Goldman Sachs Group

The Goldman Sachs Group Stock Performance

Shares of GS opened at $787.24 on Friday. The stock has a market capitalization of $236.12 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The business’s fifty day moving average price is $777.23 and its 200 day moving average price is $698.07. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the company earned $8.40 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 32.50%.

The Goldman Sachs Group Profile

(Free Report)

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.

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