Exchange Traded Concepts LLC Grows Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Exchange Traded Concepts LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 46.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,618 shares of the investment management company’s stock after purchasing an additional 835 shares during the period. Exchange Traded Concepts LLC’s holdings in The Goldman Sachs Group were worth $1,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GS. Brookstone Capital Management increased its holdings in shares of The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares during the period. Empowered Funds LLC boosted its stake in shares of The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares during the last quarter. Duality Advisers LP acquired a new stake in The Goldman Sachs Group during the first quarter worth approximately $1,388,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in The Goldman Sachs Group by 34.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in The Goldman Sachs Group by 25.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after purchasing an additional 2,442 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GS. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday. JMP Securities raised their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Barclays raised their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Price Performance

Shares of GS opened at $529.86 on Thursday. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $540.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The firm has a market cap of $170.86 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.77 and a beta of 1.36. The stock has a 50 day moving average of $496.53 and a 200-day moving average of $467.83.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.47 earnings per share. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.26%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.