Rockland Trust Co. Has $257,000 Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Rockland Trust Co. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 60.0% during the third quarter, HoldingsChannel.com reports. The firm owned 520 shares of the investment management company’s stock after selling 779 shares during the quarter. Rockland Trust Co.’s holdings in The Goldman Sachs Group were worth $257,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GS. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the second quarter valued at approximately $26,000. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. boosted its position in shares of The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the period. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 1.9 %

NYSE:GS traded up $9.06 during trading hours on Friday, reaching $495.16. 1,721,821 shares of the stock were exchanged, compared to its average volume of 2,224,820. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $517.26. The stock has a market cap of $159.67 billion, a PE ratio of 19.34, a PEG ratio of 0.78 and a beta of 1.36. The firm has a 50 day moving average of $492.29 and a 200 day moving average of $461.63.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Analyst Ratings Changes

GS has been the topic of a number of recent analyst reports. BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Barclays increased their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $497.56.

The Goldman Sachs Group 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.