Cannell & Spears LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,791 shares of the investment management company's stock after selling 5,094 shares during the period. Cannell & Spears LLC's holdings in The Goldman Sachs Group were worth $4,461,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in The Goldman Sachs Group in the 4th quarter valued at $1,603,315,000. Raymond James Financial Inc. purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $624,844,000. Proficio Capital Partners LLC lifted its stake in The Goldman Sachs Group by 14,007.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company's stock worth $606,815,000 after acquiring an additional 1,052,204 shares in the last quarter. Ieq Capital LLC boosted its position in The Goldman Sachs Group by 1,400.8% in the 4th quarter. Ieq Capital LLC now owns 419,095 shares of the investment management company's stock valued at $239,982,000 after buying an additional 391,170 shares during the period. Finally, Janus Henderson Group PLC grew its stake in The Goldman Sachs Group by 154.7% during the 3rd quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company's stock worth $205,403,000 after purchasing an additional 251,972 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.
The Goldman Sachs Group Price Performance
Shares of GS stock traded down $51.28 during mid-day trading on Thursday, reaching $511.82. The stock had a trading volume of 3,991,166 shares, compared to its average volume of 2,289,967. The company has a market cap of $159.71 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12-month low of $387.12 and a 12-month high of $672.19. The business has a 50-day simple moving average of $603.45 and a 200 day simple moving average of $573.30.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to analysts' expectations of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm's quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.48 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.
The Goldman Sachs Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, February 28th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 29.59%.
Insiders Place Their Bets
In related news, insider Alex S. Golten sold 5,208 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now owns 3,545 shares in the company, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the sale, the chief accounting officer now directly owns 6,455 shares of the company's stock, valued at $4,047,349.55. The trade was a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,925 shares of company stock valued at $12,630,683. Corporate insiders own 0.55% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on GS shares. Barclays upped their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. UBS Group boosted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research note on Thursday. Citigroup lowered their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Wells Fargo & Company cut their price target on The Goldman Sachs Group from $720.00 to $680.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Hold" and a consensus target price of $591.13.
Get Our Latest Stock Analysis on GS
About The Goldman Sachs Group
(
Free Report)
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.
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