CIBC Asset Management Inc Boosts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

CIBC Asset Management Inc grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,480 shares of the investment management company’s stock after acquiring an additional 2,698 shares during the period. CIBC Asset Management Inc’s holdings in The Goldman Sachs Group were worth $27,964,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Procyon Advisors LLC boosted its position in The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management boosted its holdings in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares in the last quarter. Axxcess Wealth Management LLC grew its position in The Goldman Sachs Group by 25.5% during 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 buying an additional 2,442 shares during the period. Granite Bay Wealth Management LLC purchased a new position in The Goldman Sachs Group in the second quarter valued at $5,529,000. Finally, Bessemer Group Inc. raised its position in shares of The Goldman Sachs Group by 56.1% in the first quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock worth $9,097,000 after acquiring an additional 7,826 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GS shares. Barclays raised their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities boosted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Evercore ISI increased their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target 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, Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $535.75.

The Goldman Sachs Group Stock Up 0.8 %

Shares of NYSE:GS opened at $593.51 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15. The stock has a market cap of $186.31 billion, a P/E ratio of 17.42, a PEG ratio of 0.86 and a beta of 1.35. The business has a fifty day moving average of $515.82 and a two-hundred day moving average of $487.22. 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 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, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the firm earned $5.47 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm 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 of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,390 shares of company stock worth $6,656,119. Company insiders own 0.54% of the company’s stock.

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.