Prentice Wealth Management LLC Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Prentice Wealth Management LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,931 shares of the investment management company’s stock after selling 37 shares during the period. The Goldman Sachs Group accounts for approximately 0.7% of Prentice Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Prentice Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $2,441,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group during the second quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter worth about $27,000. Versant Capital Management Inc lifted its position in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Finally, Barclays boosted their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $497.56.

The Goldman Sachs Group Stock Down 0.1 %

Shares of NYSE:GS traded down $0.54 during trading hours on Monday, hitting $494.62. The company’s stock had a trading volume of 1,163,402 shares, compared to its average volume of 2,219,322. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s fifty day moving average price is $492.29 and its 200 day moving average price is $462.61. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26. The company has a market capitalization of $159.50 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a yield of 2.43%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The trade was a 0.00 % 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. In other news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

About The Goldman Sachs Group

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.