Allspring Global Investments Holdings LLC Sells 12,402 Shares of The Goldman Sachs Group, Inc. $GS

Allspring Global Investments Holdings LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.7% during the third quarter, HoldingsChannel.com reports. The firm owned 57,688 shares of the investment management company’s stock after selling 12,402 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Goldman Sachs Group were worth $45,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its position in The Goldman Sachs Group by 617,504.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after buying an additional 29,053,586 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 3.6% during the 2nd quarter. Fisher Asset Management LLC now owns 6,539,746 shares of the investment management company’s stock valued at $4,628,507,000 after acquiring an additional 227,604 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of The Goldman Sachs Group by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock worth $2,392,124,000 after purchasing an additional 157,473 shares in the last quarter. Norges Bank bought a new position in shares of The Goldman Sachs Group in the second quarter worth $2,138,031,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock worth $1,138,527,000 after purchasing an additional 120,272 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 0.7%

Shares of NYSE:GS opened at $878.28 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $919.10. The company has a market capitalization of $263.42 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.33. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $834.26 and a 200-day moving average of $770.53.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The business had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the previous year, the company posted $8.40 EPS. The Goldman Sachs Group’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is 32.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GS shares. UBS Group increased their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Rothschild & Co Redburn upped their target price on The Goldman Sachs Group from $608.00 to $748.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $870.00 to $971.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $792.67.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.