Reliant Investment Management LLC Takes $445,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Reliant Investment Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 898 shares of the investment management company’s stock, valued at approximately $445,000.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after acquiring an additional 2,428 shares in the last quarter. Duality Advisers LP acquired a new position in The Goldman Sachs Group in the 1st quarter worth about $1,388,000. BI Asset Management Fondsmaeglerselskab A S increased its position in The Goldman Sachs Group by 34.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after purchasing an additional 2,103 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after purchasing an additional 2,442 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,357,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GS shares. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Oppenheimer increased their price target on shares of The Goldman Sachs Group from $548.00 to $577.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. UBS Group increased their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $499.13.

The Goldman Sachs Group Trading Up 0.4 %

Shares of GS stock opened at $496.57 on Wednesday. The company has a market capitalization of $160.13 billion, a P/E ratio of 19.39, a P/E/G ratio of 0.78 and a beta of 1.36. The firm has a 50-day moving average price of $492.33 and a 200 day moving average price of $463.18. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Research analysts forecast that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $3.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend was Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.42%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

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.