M&T Bank Corp Grows Position in The Goldman Sachs Group, Inc. (NYSE:GS)

M&T Bank Corp grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) 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 (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the firm earned $5.47 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

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.

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.