Taurus Asset Management LLC Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Taurus Asset Management LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 10.0% during the 3rd quarter, Holdings Channel reports. The firm owned 770 shares of the investment management company’s stock after buying an additional 70 shares during the quarter. Taurus Asset Management LLC’s holdings in The Goldman Sachs Group were worth $381,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GS. POM Investment Strategies LLC purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. raised its position in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Finally, Quest Partners LLC raised 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. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 report on Wednesday, October 16th. Oppenheimer upped their target price on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Bank of America upped their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. UBS Group upped their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $535.75.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at $34,358,685.04. The trade was 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 over the last 90 days. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $593.54 on Monday. 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 firm’s 50 day moving average price is $518.10 and its 200-day moving average price is $489.21. The Goldman Sachs Group, Inc. has a 52-week low of $334.55 and a 52-week high of $607.15. The company has a market cap of $186.32 billion, a PE ratio of 17.42, a P/E/G ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released 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 firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the firm earned $5.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio 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.