Evernest Financial Advisors LLC Trims Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Evernest Financial Advisors LLC cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,158 shares of the investment management company’s stock after selling 65 shares during the period. Evernest Financial Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group during the second quarter valued at $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group in the second quarter worth $27,000. SJS Investment Consulting Inc. grew its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of 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 worth $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 2.0 %

The Goldman Sachs Group stock opened at $517.87 on Tuesday. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $540.51. The firm has a market capitalization of $166.99 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 0.77 and a beta of 1.36. The firm has a 50 day moving average of $498.80 and a 200 day moving average of $470.64. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the company posted $5.47 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.32%. The Goldman Sachs Group’s payout ratio is 46.86%.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $524.69.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group 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 sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

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.