PAX Financial Group LLC Reduces Position in The Goldman Sachs Group, Inc. $GS

PAX Financial Group LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 42.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 465 shares of the investment management company’s stock after selling 343 shares during the quarter. PAX Financial Group LLC’s holdings in The Goldman Sachs Group were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its holdings in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the period. Nuveen LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $897,185,000. Ninety One UK Ltd bought a new position in shares of The Goldman Sachs Group in the second quarter worth $408,780,000. AGF Management Ltd. boosted its holdings in shares of The Goldman Sachs Group by 2,429.6% in the second quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock worth $343,524,000 after acquiring an additional 466,187 shares during the period. Finally, Amundi grew its position in shares of The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock valued at $967,193,000 after purchasing an additional 225,993 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on GS shares. Deutsche Bank Aktiengesellschaft increased their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Dbs Bank raised their price objective on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Daiwa Capital Markets raised their price target on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $786.00.

The Goldman Sachs Group Trading Down 1.8%

Shares of GS opened at $776.42 on Tuesday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $841.28. The company has a market capitalization of $232.87 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.43 and a beta of 1.41. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $785.78 and its 200 day simple moving average is $713.29.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The firm had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.40 EPS. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer owned 106,268 shares of the company’s stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Company 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.