Cullinan Associates Inc. Sells 3,618 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Cullinan Associates Inc. lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 14.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,816 shares of the investment management company’s stock after selling 3,618 shares during the period. Cullinan Associates Inc.’s holdings in The Goldman Sachs Group were worth $10,781,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Waldron Private Wealth LLC boosted its holdings in The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after acquiring an additional 20 shares in the last quarter. First Pacific Financial raised its position in shares of The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock worth $1,568,000 after purchasing an additional 20 shares during the period. Krane Funds Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 1.7% in the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock worth $583,000 after purchasing an additional 20 shares in the last quarter. Tanager Wealth Management LLP grew its position in The Goldman Sachs Group by 3.6% in the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 20 shares during the period. Finally, M3 Advisory Group LLC increased its stake in The Goldman Sachs Group by 3.9% during the 3rd quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after purchasing an additional 21 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded down $0.14 during midday trading on Friday, reaching $524.36. 98,094 shares of the stock were exchanged, compared to its average volume of 2,198,357. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $169.09 billion, a PE ratio of 20.48, a PEG ratio of 0.77 and a beta of 1.36. The company’s fifty day moving average is $499.70 and its 200-day moving average is $471.74.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.47 earnings per share. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Analysts Set New Price Targets

A number of research analysts have weighed in on GS shares. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target 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. UBS Group boosted their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Company 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.