The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 22.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 613 shares of the investment management company’s stock after selling 174 shares during the period. New Century Financial Group LLC’s holdings in The Goldman Sachs Group were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC increased its position in The Goldman Sachs Group by 3.0% during the first quarter. Park Avenue Securities LLC now owns 5,358 shares of the investment management company’s stock worth $2,238,000 after buying an additional 154 shares during the period. RFG Advisory LLC grew its position in shares of The Goldman Sachs Group by 9.5% during the first quarter. RFG Advisory LLC now owns 2,401 shares of the investment management company’s stock worth $1,003,000 after acquiring an additional 208 shares during the last quarter. &PARTNERS increased its holdings in shares of The Goldman Sachs Group by 33.0% in the 1st quarter. &PARTNERS now owns 919 shares of the investment management company’s stock valued at $384,000 after acquiring an additional 228 shares during the period. Douglas Lane & Associates LLC raised its position in The Goldman Sachs Group by 26.1% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,086 shares of the investment management company’s stock valued at $454,000 after purchasing an additional 225 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth $66,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GS shares. Bank of America upped their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer increased their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $528.50 on Monday. The firm has a market capitalization of $170.42 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. 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 business’s 50 day simple moving average is $498.15 and its 200-day simple moving average is $469.85. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $540.51.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the prior year, the company earned $5.47 earnings per share. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

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.