The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Glassman Wealth Services

Glassman Wealth Services trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 946 shares of the investment management company’s stock after selling 47 shares during the period. Glassman Wealth Services’ holdings in The Goldman Sachs Group were worth $365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $1,120,119,000. Morgan Stanley increased its position in shares of The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after purchasing an additional 412,383 shares during the last quarter. Wellington Management Group LLP increased its position in shares of The Goldman Sachs Group by 17.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,719,242 shares of the investment management company’s stock valued at $556,295,000 after purchasing an additional 255,690 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $64,070,000. Finally, Raymond James & Associates increased its position in shares of The Goldman Sachs Group by 41.9% in the 4th quarter. Raymond James & Associates now owns 612,025 shares of the investment management company’s stock valued at $236,101,000 after purchasing an additional 180,674 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded up $3.03 during trading hours on Friday, reaching $461.18. 1,932,470 shares of the stock were exchanged, compared to its average volume of 2,210,296. The stock has a market cap of $148.71 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.93 and a beta of 1.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $471.48. The firm’s 50 day moving average is $425.16 and its 200 day moving average is $390.67.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The Goldman Sachs Group’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.79 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 36.57 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.39%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GS shares. Edward Jones started coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Royal Bank of Canada upped their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday, April 16th. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $410.00 to $430.00 in a report on Thursday, March 14th. Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price for the company in a report on Tuesday, April 16th. Finally, BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $440.57.

Insiders Place Their Bets

In other news, Director David A. Viniar sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

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.