OLD National Bancorp IN Sells 291 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

OLD National Bancorp IN lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.5% in the third quarter, Holdings Channel reports. The firm owned 3,151 shares of the investment management company’s stock after selling 291 shares during the period. OLD National Bancorp IN’s holdings in The Goldman Sachs Group were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after acquiring an additional 77,700 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after acquiring an additional 68,141 shares during the period. Jennison Associates LLC grew its stake in shares of The Goldman Sachs Group by 18.0% during the 1st quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock worth $752,425,000 after acquiring an additional 274,509 shares during the period. Capital Wealth Planning LLC grew its stake in shares of The Goldman Sachs Group by 0.3% during the 1st quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock worth $498,472,000 after acquiring an additional 3,396 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of The Goldman Sachs Group by 34.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock worth $381,598,000 after acquiring an additional 217,954 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $517.87 on Tuesday. 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 firm has a market capitalization of $166.99 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The business’s 50-day moving average price is $498.80 and its 200-day moving average price is $470.64. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $540.51.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.47 EPS. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 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 Monday, December 30th. Investors of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.32%. The Goldman Sachs Group’s payout ratio is 46.86%.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GS has been the subject of several research reports. Barclays increased their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JMP Securities increased their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. UBS Group increased their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Oppenheimer increased their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

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.