1832 Asset Management L.P. Cuts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

1832 Asset Management L.P. lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,531 shares of the investment management company’s stock after selling 316 shares during the quarter. 1832 Asset Management L.P.’s holdings in The Goldman Sachs Group were worth $2,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $1,903,374,000. Norges Bank purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $1,120,119,000. Wellington Management Group LLP increased its position in shares of The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after acquiring an additional 464,954 shares in the last quarter. Verity & Verity LLC raised its stake in shares of The Goldman Sachs Group by 26,378.2% in the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock valued at $170,000 after acquiring an additional 406,224 shares during the period. Finally, Focused Investors Fund L P acquired a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $146,317,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Oppenheimer raised their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, UBS Group upped their target price on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average price target of $484.59.

The Goldman Sachs Group Stock Performance

Shares of GS traded up $7.32 during mid-day trading on Friday, hitting $499.03. The stock had a trading volume of 2,249,857 shares, compared to its average volume of 2,357,447. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $509.48. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The company has a market cap of $160.92 billion, a PE ratio of 19.49, a PEG ratio of 1.01 and a beta of 1.37. The company’s fifty day simple moving average is $466.04 and its two-hundred day simple moving average is $424.70.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction 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 transaction, 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 sold a total of 4,018,500 shares of company stock valued at $34,342,615 over the last 90 days. 0.54% of the stock is owned by company insiders.

About The Goldman Sachs Group

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.