Advisors Asset Management Inc. Buys 3,305 Shares of The Goldman Sachs Group, Inc. $GS

Advisors Asset Management Inc. boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 12.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 29,399 shares of the investment management company’s stock after purchasing an additional 3,305 shares during the period. Advisors Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $23,412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GS. Harbor Capital Advisors Inc. bought a new position in The Goldman Sachs Group in the third quarter valued at approximately $26,000. First PREMIER Bank acquired a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at $28,000. Corundum Trust Company INC bought a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $29,000. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $31,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of The Goldman Sachs Group by 100.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after buying an additional 20 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

Insiders Place Their Bets

In other news, Treasurer Carey Halio sold 2,846 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $927.17, for a total value of $2,638,725.82. Following the completion of the sale, the treasurer directly owned 2,017 shares in the company, valued at $1,870,101.89. This trade represents a 58.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 9,589 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $927.51, for a total value of $8,893,893.39. Following the completion of the sale, the insider directly owned 18,533 shares of the company’s stock, valued at $17,189,542.83. The trade was a 34.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 87,513 shares of company stock valued at $83,718,401. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Price Performance

GS stock opened at $948.40 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.29. The firm has a market cap of $284.45 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.16 and a beta of 1.34. The company’s fifty day simple moving average is $914.60 and its 200 day simple moving average is $820.58. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $984.70.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $11.95 earnings per share. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be paid a dividend of $4.50 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.00. This represents a $18.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, March 2nd. The Goldman Sachs Group’s payout ratio is currently 31.20%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their target price on The Goldman Sachs Group from $900.00 to $1,030.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 20th. Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Friday, January 16th. UBS Group reiterated a “neutral” rating and set a $990.00 price objective on shares of The Goldman Sachs Group in a research report on Wednesday, February 4th. Dbs Bank increased their price objective on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Bank of America boosted their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $916.86.

Check Out Our Latest Research Report on The Goldman Sachs Group

About The Goldman Sachs Group

(Free Report)

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.

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Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GSFree Report).

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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