Destination Wealth Management increased its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 511.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,291 shares of the investment management company’s stock after purchasing an additional 2,753 shares during the period. Destination Wealth Management’s holdings in Goldman Sachs Group were worth $738,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Goldman Sachs Group by 716.4% during the 2nd quarter. Renaissance Technologies LLC now owns 801,657 shares of the investment management company’s stock valued at $176,821,000 after acquiring an additional 703,457 shares in the last quarter. Investec Asset Management LTD grew its stake in Goldman Sachs Group by 360.3% during the 2nd quarter. Investec Asset Management LTD now owns 704,170 shares of the investment management company’s stock valued at $155,319,000 after acquiring an additional 551,181 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in Goldman Sachs Group during the 3rd quarter valued at about $82,012,000. Massachusetts Financial Services Co. MA grew its stake in Goldman Sachs Group by 3.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,736,573 shares of the investment management company’s stock valued at $2,631,807,000 after acquiring an additional 360,264 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Goldman Sachs Group by 162.5% during the 2nd quarter. Toronto Dominion Bank now owns 504,122 shares of the investment management company’s stock valued at $111,171,000 after acquiring an additional 312,072 shares in the last quarter. Hedge funds and other institutional investors own 72.51% of the company’s stock.

NYSE:GS opened at $205.05 on Wednesday. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $76.65 billion, a P/E ratio of 8.28, a P/E/G ratio of 0.67 and a beta of 1.15. Goldman Sachs Group Inc has a fifty-two week low of $202.33 and a fifty-two week high of $275.31.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.38 by $0.90. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $5.02 EPS. As a group, equities analysts forecast that Goldman Sachs Group Inc will post 25.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, November 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. Goldman Sachs Group’s payout ratio is currently 16.19%.

GS has been the subject of several analyst reports. JPMorgan Chase & Co. reissued a “buy” rating and issued a $280.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, July 17th. Wells Fargo & Co reissued a “buy” rating on shares of Goldman Sachs Group in a research note on Thursday, September 20th. Zacks Investment Research raised shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price target for the company in a research note on Friday, July 20th. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a research note on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $281.21.

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Goldman Sachs Group Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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