Primecap Management Co. CA Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Primecap Management Co. CA reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,650 shares of the investment management company’s stock after selling 6,500 shares during the period. Primecap Management Co. CA owned approximately 0.08% of The Goldman Sachs Group worth $126,080,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GS. Citizens Financial Group Inc. RI raised its position in The Goldman Sachs Group by 9.9% in the third quarter. Citizens Financial Group Inc. RI now owns 41,501 shares of the investment management company’s stock valued at $20,548,000 after purchasing an additional 3,754 shares during the period. Altman Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group in the third quarter valued at $2,101,000. Advisors Asset Management Inc. raised its holdings in shares of The Goldman Sachs Group by 1.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 39,404 shares of the investment management company’s stock valued at $19,509,000 after buying an additional 718 shares during the period. Hilton Capital Management LLC lifted its stake in The Goldman Sachs Group by 0.9% during the 3rd quarter. Hilton Capital Management LLC now owns 23,250 shares of the investment management company’s stock worth $11,511,000 after acquiring an additional 217 shares in the last quarter. Finally, Strategy Asset Managers LLC purchased a new position in The Goldman Sachs Group during the 3rd quarter valued at about $671,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Buying and Selling

In other The Goldman Sachs Group news, 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 sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % 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 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GS. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Citigroup increased their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America boosted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer increased their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned 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 price target of $542.00.

The Goldman Sachs Group Price Performance

Shares of GS opened at $597.01 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1-year low of $334.87 and a 1-year high of $607.15. The stock has a market cap of $187.41 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The firm has a fifty day moving average price of $527.04 and a 200 day moving average price of $492.68.

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 business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.47 EPS. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 2.01%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

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.