Suvretta Capital Management LLC Buys 30,360 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Suvretta Capital Management LLC boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 38.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,308 shares of the investment management company’s stock after acquiring an additional 30,360 shares during the quarter. The Goldman Sachs Group comprises about 1.7% of Suvretta Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Suvretta Capital Management LLC’s holdings in The Goldman Sachs Group were worth $53,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GS. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of The Goldman Sachs Group by 6,300.0% during the second 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 last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 0.0 %

The Goldman Sachs Group stock opened at $605.43 on Friday. The business has a fifty day moving average of $538.72 and a two-hundred day moving average of $498.08. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market cap of $190.05 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a twelve month low of $334.87 and a twelve month high of $612.25.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.47 earnings per share. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Activity

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock worth $6,656,119. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. UBS Group upped their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer upped their target price on The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $550.63.

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.