First City Capital Management Inc. Grows Position in The Goldman Sachs Group, Inc. (NYSE:GS)

First City Capital Management Inc. raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 951 shares of the investment management company’s stock after purchasing an additional 116 shares during the quarter. First City Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $471,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Mizuho Securities USA LLC increased its stake in The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of The Goldman Sachs Group by 2.9% during 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 purchasing an additional 77,700 shares during the period. Dimensional Fund Advisors LP raised its holdings in The Goldman Sachs Group by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after buying an additional 68,141 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in The Goldman Sachs Group by 0.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock valued at $494,187,000 after buying an additional 4,007 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in The Goldman Sachs Group by 34.8% during the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock worth $381,598,000 after buying an additional 217,954 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the topic of several recent research reports. Barclays lifted their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley increased their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Bank of America lifted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Stock Performance

GS stock opened at $588.06 on Tuesday. The stock’s 50 day simple moving average is $520.09 and its 200 day simple moving average is $490.31. The Goldman Sachs Group, Inc. has a 12-month low of $334.55 and a 12-month high of $607.15. The firm has a market cap of $184.60 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $5.47 EPS. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. 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. 0.57% of the stock is currently owned by company insiders.

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.