The Goldman Sachs Group, Inc. (NYSE:GS) Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,228 shares of the investment management company’s stock after purchasing an additional 31 shares during the period. Cornerstone Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in shares of The Goldman Sachs Group by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after acquiring an additional 77,700 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of The Goldman Sachs Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares during the last quarter. Jennison Associates LLC increased its position in shares of The Goldman Sachs Group by 18.0% in the 1st quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock valued at $752,425,000 after purchasing an additional 274,509 shares during the last quarter. Capital Wealth Planning LLC increased its position in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock valued at $498,472,000 after purchasing an additional 3,396 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of The Goldman Sachs Group by 34.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock valued at $381,598,000 after purchasing an additional 217,954 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on GS. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JMP Securities increased their price target on shares of 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. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average price target of $524.69.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $524.40 on Thursday. The company has a 50 day simple moving average of $501.86 and a 200-day simple moving average of $475.93. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72. The firm has a market capitalization of $165.61 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52-week low of $300.70 and a 52-week high of $540.51.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.47 earnings per share. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.14 earnings per share for the current fiscal 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 issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

About The Goldman Sachs Group

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.