Prospector Partners LLC Decreases Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Prospector Partners LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 49.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,110 shares of the investment management company’s stock after selling 8,005 shares during the period. Prospector Partners LLC’s holdings in The Goldman Sachs Group were worth $4,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group during the second quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in The Goldman Sachs Group in the second quarter worth about $27,000. SJS Investment Consulting Inc. raised its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the period. Finally, Quest Partners LLC lifted its position in shares of The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. Citigroup increased their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $550.63.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated 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 transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock worth $6,656,119 in the last 90 days. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Trading Up 0.0 %

GS opened at $603.03 on Tuesday. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $611.30. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock’s fifty day moving average is $531.87 and its two-hundred day moving average is $495.51. The company has a market capitalization of $189.30 billion, a P/E ratio of 17.69, a PEG ratio of 0.88 and a beta of 1.35.

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 (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.47 earnings per share. Analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

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 paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The Goldman Sachs Group’s payout ratio is 35.21%.

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.