930 The Goldman Sachs Group, Inc. $GS Shares Bought by Tower View Wealth Management LLC

Tower View Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 40.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,236 shares of the investment management company’s stock after purchasing an additional 930 shares during the period. Tower View Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $2,913,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter worth about $53,720,000. Envestnet Portfolio Solutions Inc. lifted its stake in The Goldman Sachs Group by 14.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock valued at $17,606,000 after buying an additional 2,230 shares in the last quarter. Sax Wealth Advisors LLC lifted its stake in The Goldman Sachs Group by 148.7% during the second quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company’s stock valued at $3,569,000 after buying an additional 2,110 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of The Goldman Sachs Group by 2.9% in the second quarter. Baird Financial Group Inc. now owns 110,233 shares of the investment management company’s stock worth $111,487,000 after buying an additional 3,063 shares during the period. Finally, Liontrust Investment Partners LLP boosted its holdings in shares of The Goldman Sachs Group by 1,007.5% in the first quarter. Liontrust Investment Partners LLP now owns 9,602 shares of the investment management company’s stock worth $8,123,000 after buying an additional 8,735 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the topic of a number of recent analyst reports. Freedom Broker upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and cut their price target for the company from $1,200.00 to $1,100.00 in a report on Friday. Keefe, Bruyette & Woods decreased their price objective on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Bank of America lifted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Barclays boosted their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. increased 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. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1,052.48.

Check Out Our Latest Analysis on GS

Key The Goldman Sachs Group News

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

  • Positive Sentiment: Freedom Broker upgraded GS from “Hold” to “Buy” and set a $1,100 price target, implying approximately 25.6% upside from the referenced share price. However, the target was reduced from $1,200, which somewhat tempers the bullish signal. Freedom Broker upgrades Goldman Sachs to Buy
  • Positive Sentiment: Goldman Sachs reported particularly strong equities performance in the third quarter, with net revenue rising 72% year over year to $6.44 billion. Robust client activity, financing demand and derivatives contributed to the result, supporting optimism about earnings momentum. Goldman Sachs equities revenue growth
  • Positive Sentiment: Zacks upgraded Goldman Sachs to a Rank #2 (“Buy”), citing improving expectations for the company’s earnings prospects. Zacks upgrades Goldman Sachs to Buy

The Goldman Sachs Group Price Performance

Shares of GS opened at $876.07 on Monday. The company has a market capitalization of $255.08 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.83 and a beta of 1.29. The Goldman Sachs Group, Inc. has a fifty-two week low of $754.00 and a fifty-two week 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 business’s 50-day moving average is $959.69 and its 200-day moving average is $991.52.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The firm had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.25 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 70.89 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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 issued a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 28.76%.

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.

See Also

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:GS – Free Report).

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

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