Sanders Morris Harris LLC Invests $4.60 Million in The Goldman Sachs Group, Inc. $GS

Sanders Morris Harris LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,782 shares of the investment management company’s stock, valued at approximately $4,604,000. The Goldman Sachs Group comprises approximately 0.6% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 26th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in GS. Dogwood Wealth Management LLC increased its position in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the period. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $31,000. Graney & King LLC grew its position in shares of The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after buying an additional 17 shares during the period. Ridgewood Investments LLC lifted its holdings in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $39,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GS has been the subject of several recent research reports. Rothschild & Co Redburn upped their target price on shares of The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. BNP Paribas Exane upped their price objective on The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Citigroup raised their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, UBS Group upped their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $787.06.

The Goldman Sachs Group Trading Down 1.1%

NYSE:GS opened at $879.49 on Wednesday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50-day simple moving average is $803.70 and its 200-day simple moving average is $749.05. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $919.10. The stock has a market capitalization of $263.78 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The Goldman Sachs Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business earned $8.40 EPS. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

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.