5,372 The Goldman Sachs Group, Inc. $GS Shares Sold by Waycross Partners LLC

Waycross Partners LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,903 shares of the investment management company’s stock after selling 5,372 shares during the period. The Goldman Sachs Group accounts for about 3.1% of Waycross Partners LLC’s holdings, making the stock its 11th biggest position. Waycross Partners LLC’s holdings in The Goldman Sachs Group were worth $40,429,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Alps Advisors Inc. increased its position in The Goldman Sachs Group by 6.9% in the 3rd quarter. Alps Advisors Inc. now owns 5,084 shares of the investment management company’s stock valued at $4,577,000 after acquiring an additional 326 shares during the period. Ashton Thomas Private Wealth LLC raised its position in The Goldman Sachs Group by 19.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 5,487 shares of the investment management company’s stock worth $4,940,000 after acquiring an additional 878 shares in the last quarter. Asset One Wealth Management LLC increased its holdings in shares of The Goldman Sachs Group by 17.4% in the 3rd quarter. Asset One Wealth Management LLC now owns 5,590 shares of the investment management company’s stock valued at $5,033,000 after purchasing an additional 830 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $4,460,000. Finally, Liberty Capital Management Inc. boosted its stake in shares of The Goldman Sachs Group by 2.5% during the 3rd quarter. Liberty Capital Management Inc. now owns 1,655 shares of the investment management company’s stock worth $1,490,000 after acquiring an additional 40 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO David Solomon sold 12,000 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the transaction, the chief executive officer directly owned 159,180 shares of the company’s stock, valued at $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ericka Leslie sold 250 shares of the company’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $890.25, for a total value of $222,562.50. Following the completion of the sale, the insider owned 10,710 shares in the company, valued at $9,534,577.50. This represents a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,500 shares of company stock valued at $11,380,508. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GS. Wells Fargo & Company dropped their price objective on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating for the company in a research note on Friday, September 25th. Freedom Broker upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and decreased their target price for the stock from $1,200.00 to $1,100.00 in a research report on Friday, October 23rd. BMO Capital Markets decreased their target price on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating on the stock in a research report on Monday, October 19th. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $955.00 to $970.00 and gave the company a “neutral” rating in a report on Friday, October 16th. Finally, Barclays raised their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,052.04.

More The Goldman Sachs Group News

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

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded down $3.07 on Friday, hitting $865.88. The company’s stock had a trading volume of 2,481,265 shares, compared to its average volume of 2,283,557. The stock has a 50 day moving average of $932.40 and a 200-day moving average of $956.58. The company has a market capitalization of $252.12 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.85 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 12-month low of $754.00 and a 12-month high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $16.83 billion. During the same period last year, the company posted $12.25 EPS. The company’s revenue was up 23.0% on a year-over-year basis. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 71.49 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 annualized dividend and a yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 28.76%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide.

The company’s businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.

Goldman Sachs also provides consumer financial products and digital financial services.