The Goldman Sachs Group, Inc. $GS Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 38.9% during the third quarter, HoldingsChannel.com reports. The fund owned 5,864 shares of the investment management company’s stock after selling 3,740 shares during the period. Harvest Portfolios Group Inc.’s holdings in The Goldman Sachs Group were worth $4,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of GS. Norges Bank acquired a new position in The Goldman Sachs Group in the second quarter valued at $2,138,031,000. AGF Management Ltd. grew its holdings in shares of The Goldman Sachs Group by 2,429.6% during the second quarter. AGF Management Ltd. now owns 485,375 shares of the investment management company’s stock worth $343,524,000 after buying an additional 466,187 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in The Goldman Sachs Group by 100,678.6% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 404,122 shares of the investment management company’s stock valued at $286,017,000 after acquiring an additional 403,721 shares during the period. Ameriprise Financial Inc. raised its stake in The Goldman Sachs Group by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,895,752 shares of the investment management company’s stock valued at $1,345,924,000 after acquiring an additional 291,280 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in The Goldman Sachs Group by 3.6% during the 2nd quarter. Fisher Asset Management LLC now owns 6,539,746 shares of the investment management company’s stock worth $4,628,507,000 after acquiring an additional 227,604 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 7.7%

Shares of GS opened at $857.90 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $984.70. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $254.58 billion, a P/E ratio of 16.73, a PEG ratio of 1.14 and a beta of 1.34. The firm’s 50-day moving average is $924.23 and its two-hundred day moving average is $836.28.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, topping the consensus estimate of $11.52 by $2.03. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $11.95 EPS. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 2nd will be issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 2.1%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The ex-dividend date of this dividend is Monday, March 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 31.20%.

More The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

Analyst Upgrades and Downgrades

GS has been the subject of several recent research reports. Autonomous Res decreased their price target on The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Barclays raised their target price on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Dbs Bank boosted their price target on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. HSBC raised their price objective on shares of The Goldman Sachs Group from $742.00 to $802.00 in a research report on Friday, February 6th. Finally, Royal Bank Of Canada lifted their price objective on The Goldman Sachs Group from $900.00 to $1,030.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $916.86.

Get Our Latest Report on The Goldman Sachs Group

Insiders Place Their Bets

In other news, CAO Sheara J. Fredman sold 4,863 shares of The Goldman Sachs Group stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $923.75, for a total transaction of $4,492,196.25. Following the completion of the transaction, the chief accounting officer owned 10,301 shares of the company’s stock, valued at $9,515,548.75. The trade was a 32.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 9,589 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the completion of the sale, the insider owned 18,533 shares in the company, valued at $17,189,542.83. This represents a 34.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 117,283 shares of company stock valued at $112,016,033. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GSFree Report).

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

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