Corundum Group Inc. Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Corundum Group Inc. lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 54.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,178 shares of the investment management company’s stock after selling 1,411 shares during the quarter. Corundum Group Inc.’s holdings in The Goldman Sachs Group were worth $583,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. POM Investment Strategies LLC purchased a new stake in The Goldman Sachs Group during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. grew its position in shares of The Goldman Sachs Group by 103.3% during the 2nd 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. Finally, Quest Partners LLC raised its stake in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after acquiring an additional 63 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the 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 sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Down 0.1 %

The Goldman Sachs Group stock opened at $528.50 on Monday. 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 debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $170.42 billion, a PE ratio of 20.64, a PEG ratio of 0.77 and a beta of 1.36. 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 (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $5.47 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GS. UBS Group lifted their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. BMO Capital Markets increased their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped 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, October 16th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Company 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.