Cullinan Associates Inc. Acquires 23,491 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Cullinan Associates Inc. raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 738.0% in the first quarter, Holdings Channel reports. The firm owned 26,674 shares of the investment management company’s stock after purchasing an additional 23,491 shares during the period. Cullinan Associates Inc.’s holdings in The Goldman Sachs Group were worth $11,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Powell Investment Advisors LLC increased its position in The Goldman Sachs Group by 0.7% in the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after buying an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its position in The Goldman Sachs Group by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock worth $944,000 after buying an additional 25 shares in the last quarter. Optas LLC increased its position in The Goldman Sachs Group by 2.4% in the first quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock worth $448,000 after buying an additional 25 shares in the last quarter. WNY Asset Management LLC increased its position in The Goldman Sachs Group by 1.6% in the fourth quarter. WNY Asset Management LLC now owns 1,627 shares of the investment management company’s stock worth $628,000 after buying an additional 26 shares in the last quarter. Finally, Albert D Mason Inc. increased its position in The Goldman Sachs Group by 4.3% in the fourth quarter. Albert D Mason Inc. now owns 662 shares of the investment management company’s stock worth $255,000 after buying an additional 27 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 0.7 %

Shares of GS stock traded down $3.47 on Tuesday, reaching $460.19. 515,511 shares of the company’s stock were exchanged, compared to its average volume of 2,283,063. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $471.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $148.39 billion, a PE ratio of 18.09, a P/E/G ratio of 0.91 and a beta of 1.37. The company’s fifty day simple moving average is $449.86 and its 200 day simple moving average is $411.13.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $8.79 EPS. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 36.59 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th were issued a $2.75 dividend. The ex-dividend date was Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.39%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GS. Evercore ISI upped their price target on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Bank of America increased their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. HSBC increased their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $443.78.

Insider Activity

In other news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was 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 of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, April 29th. The stock was 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 document filed with the SEC, which is available through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The disclosure for this sale can be found here. Insiders own 0.57% 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.