Essex Financial Services Inc. Sells 1,449 Shares of Goldman Sachs Group Inc (NYSE:GS)

Essex Financial Services Inc. trimmed its position in shares of Goldman Sachs Group Inc (NYSE:GS) by 49.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,507 shares of the investment management company’s stock after selling 1,449 shares during the quarter. Essex Financial Services Inc.’s holdings in Goldman Sachs Group were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of Goldman Sachs Group by 1.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 3,093 shares of the investment management company’s stock worth $633,000 after purchasing an additional 48 shares in the last quarter. Evolution Wealth Advisors LLC increased its stake in Goldman Sachs Group by 12.3% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 449 shares of the investment management company’s stock worth $92,000 after buying an additional 49 shares in the last quarter. Moloney Securities Asset Management LLC increased its stake in Goldman Sachs Group by 2.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 1,716 shares of the investment management company’s stock worth $356,000 after buying an additional 49 shares in the last quarter. Cannell Peter B & Co. Inc. increased its stake in Goldman Sachs Group by 1.6% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 3,130 shares of the investment management company’s stock worth $640,000 after buying an additional 50 shares in the last quarter. Finally, Cypress Asset Management Inc. TX increased its stake in Goldman Sachs Group by 2.5% in the 3rd quarter. Cypress Asset Management Inc. TX now owns 2,050 shares of the investment management company’s stock worth $425,000 after buying an additional 50 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

GS has been the subject of a number of analyst reports. ValuEngine upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $225.00 to $260.00 in a research note on Friday, July 26th. Oppenheimer cut their price target on Goldman Sachs Group from $316.00 to $301.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Odeon Capital Group lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada set a $220.00 price target on Goldman Sachs Group and gave the stock a “neutral” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $244.92.

Shares of Goldman Sachs Group stock opened at $222.91 on Friday. The firm has a market cap of $79.06 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.84 and a beta of 1.35. The business has a 50-day moving average price of $209.60 and a 200-day moving average price of $204.66. The company has a quick ratio of 0.85, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. Goldman Sachs Group Inc has a twelve month low of $151.70 and a twelve month high of $231.69.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $4.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.03 by ($0.24). The firm had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Goldman Sachs Group had a net margin of 18.86% and a return on equity of 11.41%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.28 EPS. On average, equities analysts expect that Goldman Sachs Group Inc will post 21.82 EPS for the current fiscal year.

The company 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 dividend of $1.25 per share. The ex-dividend date is Friday, November 29th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. Goldman Sachs Group’s payout ratio is 19.79%.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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

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