Raymond James Trust N.A. Sells 256 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

by · The Cerbat Gem

Raymond James Trust N.A. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,027 shares of the investment management company’s stock after selling 256 shares during the period. Raymond James Trust N.A.’s holdings in The Goldman Sachs Group were worth $6,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC increased its holdings in The Goldman Sachs Group by 407.2% during the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock worth $175,000 after purchasing an additional 338 shares in the last quarter. Shell Asset Management Co. bought a new stake in The Goldman Sachs Group during the first quarter worth $377,000. Gamco Investors INC. ET AL grew its holdings in The Goldman Sachs Group by 1.6% during the first quarter. Gamco Investors INC. ET AL now owns 6,461 shares of the investment management company’s stock worth $2,699,000 after buying an additional 100 shares in the last quarter. Elkhorn Partners Limited Partnership bought a new position in The Goldman Sachs Group during the 1st quarter valued at $4,129,000. Finally, Kestra Advisory Services LLC boosted its holdings in The Goldman Sachs Group by 12.1% during the 1st quarter. Kestra Advisory Services LLC now owns 55,018 shares of the investment management company’s stock worth $22,981,000 after acquiring an additional 5,927 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. 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. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. UBS Group upped their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

Get Our Latest Stock Analysis on The Goldman Sachs Group

The Goldman Sachs Group Stock Up 1.1 %

GS stock opened at $602.75 on Friday. The stock has a 50-day simple moving average of $529.52 and a two-hundred day simple moving average of $493.78. The Goldman Sachs Group, Inc. has a twelve month low of $334.87 and a twelve month high of $607.15. The firm has a market capitalization of $189.21 billion, a PE ratio of 17.69, a PEG ratio of 0.87 and a beta of 1.35. 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 Goldman Sachs Group (NYSE:GS – Get Free Report) last issued 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 net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the previous year, the company earned $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 35.21%.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

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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