M&T Bank Corp grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,271 shares of the investment management company’s stock after acquiring an additional 157 shares during the quarter. M&T Bank Corp’s holdings in The Goldman Sachs Group were worth $13,502,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in The Goldman Sachs Group during the second quarter worth about $27,000. Quest Partners LLC grew its holdings in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. West Branch Capital LLC acquired a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at about $30,000. Finally, DT Investment Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.
The Goldman Sachs Group Stock Up 2.2 %
GS stock opened at $566.10 on Friday. The company has a market capitalization of $177.70 billion, a P/E ratio of 16.61, a PEG ratio of 0.86 and a beta of 1.38. The firm has a 50 day simple moving average of $567.37 and a 200-day simple moving average of $512.53. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a twelve month low of $372.07 and a twelve month high of $612.73.
The Goldman Sachs Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.12%. The Goldman Sachs Group’s payout ratio is 35.21%.
Wall Street Analyst Weigh In
GS has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $559.75.
Read Our Latest Stock Analysis on GS
Insider Activity
In other news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the sale, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at approximately $72,015,903.53. This represents a 5.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,940 shares of company stock worth $13,717,979. 0.54% of the stock is currently owned by insiders.
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.
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