Massachusetts Financial Services Co. MA Sells 981,586 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Massachusetts Financial Services Co. MA lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 22.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,431,019 shares of the investment management company’s stock after selling 981,586 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.09% of The Goldman Sachs Group worth $1,698,732,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in The Goldman Sachs Group by 407.2% during the 1st quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after purchasing an additional 338 shares in the last quarter. Shell Asset Management Co. bought a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $377,000. EntryPoint Capital LLC bought a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $101,000. CreativeOne Wealth LLC boosted its stake in The Goldman Sachs Group by 15.2% during the 1st quarter. CreativeOne Wealth LLC now owns 3,873 shares of the investment management company’s stock valued at $1,618,000 after purchasing an additional 510 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 25.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after purchasing an additional 2,442 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction 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 $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GS shares. JMP Securities upped their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Keefe, Bruyette & Woods lifted 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 research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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 company has a consensus rating of “Moderate Buy” and an average price target of $535.75.

The Goldman Sachs Group Stock Up 0.1 %

GS opened at $581.93 on Thursday. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.55 and a fifty-two week high of $607.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $182.67 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The firm’s fifty day moving average is $524.58 and its 200 day moving average is $491.95.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period last year, the firm posted $5.47 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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. This represents a $12.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 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.