Greenhaven Associates Inc. Sells 48,219 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Greenhaven Associates Inc. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 84.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,040 shares of the investment management company’s stock after selling 48,219 shares during the quarter. The Goldman Sachs Group makes up 0.1% of Greenhaven Associates Inc.’s portfolio, making the stock its 16th largest holding. Greenhaven Associates Inc.’s holdings in The Goldman Sachs Group were worth $4,476,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $26,000. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group during the second quarter worth $27,000. Versant Capital Management Inc grew its stake in The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares during the period. Finally, SJS Investment Consulting Inc. grew 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 valued at $28,000 after purchasing an additional 31 shares during the period. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on GS. Evercore ISI increased their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $497.56.

The Goldman Sachs Group Stock Up 0.4 %

GS opened at $492.11 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock’s fifty day simple moving average is $492.48 and its 200 day simple moving average is $460.69. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The stock has a market cap of $158.69 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, research 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a dividend yield of 2.44%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Insider Activity

In related news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

About The Goldman Sachs Group

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.