Westbourne Investment Advisors cut its holding in Goldman Sachs Group (NYSE:GS – Free Report) by 2.7% in the first quarter, according to the latest Form 13F filed with the Securities and Exchange Commission. The fund held 19,015 shares in the investment management company after selling 525 shares during the period. Goldman Sachs Group accounts for about 3.0% of Westbourne Investment Advisors’ investment portfolio and is the company’s ninth-largest shareholding. Westbourne Investment Advisors’ Goldman Sachs Group holdings were worth $6.22 million as of the latest filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold GS shares. Morgan Stanley increased its stake in Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley purchased an additional 1,696,350 shares during the previous quarter and now owns 5,936,351 shares of the investment management company, valued at $2,038,425,000. Fisher Asset Management LLC increased his stake in Goldman Sachs Group Inc. by 3.3% during the fourth quarter. Fisher Asset Management LLC acquired an additional 156,803 shares during the period and now owns 4,900,431 shares in the investment management company, valued at $1,682.71 million. Bank of New York Mellon Corporation increased its stake in Goldman Sachs Group Inc. by 1.1% during the third quarter. Bank of New York Mellon Corp acquired an additional 52,016 shares during the period and now owns 4,764,509 shares in the investment management company, valued at $1,396,236,000. Putnam Investments LLC increased its stake in Goldman Sachs Group by 4.2% during the fourth quarter. Putnam Investments LLC acquired an additional 89,985 shares during the period and now owns 2,245,996 shares of Investment Management Company stock valued at $771.23 million. Finally, Greenhaven Associates Inc. increased its stake in the Goldman Sachs Group by 2.0% during the first quarter. Greenhaven Associates Inc. acquired an additional 43,922 shares during the period and now owns 2,224,798 shares of the investment management company, valued at $727,754,000. Institutional investors own 76.90% of the company’s shares.
Analysts set new price target
GS is a hot topic in many research analyst reports. StockNews.com began reporting on shares of Goldman Sachs Group Inc. in a research note on Thursday, May 18. They set a “Hold” rating on the stock. Bank of America raised its price target on Goldman Sachs Group Inc. stock to $425.00 from $384.00 in a research note on Thursday, March 9. BMO Capital Markets lowered its price target on Goldman Sachs Group Inc. to $414.00 from $429.00 in a research report on Wednesday, April 19, setting the stock’s rating to “outperform.” JPMorgan Chase lowered its price target on Goldman Sachs Group Inc. to $415.00 from $430.00 in a research note on Wednesday, April 19, setting the company’s rating to Overweight. Finally, Evercore ISI raised its price target on Goldman Sachs Group stock from $360.00 to $370.00, giving the stock an “Outperform” rating in its research note on Wednesday, April 19. One investment analyst rated the company a sell, six a hold, and 10 a buy. Goldman Sachs Group’s Consensus Rating is currently “Moderate Buy” with an average target price of $387.95, based on data from MarketBeat.com.
Insider Trading at Goldman Sachs Group
In related news, Finance Minister Philip R. Berlinski sold 3,750 shares in the company in a transaction on Thursday, April 20. The shares were sold at an average price of $338.10 for a total of $1,267,875.00. After the sale, the Treasurer now owns 21,366 shares of the company’s stock, valued at $7,223,844.60. The deal was disclosed in his SEC legal filings, which can be accessed via this hyperlink. In related news, Finance Minister Philip R. Berlinski sold 3,750 shares in the company in a transaction on Thursday, April 20. The shares were sold at an average price of $338.10 for a total of $1,267,875.00. After the sale, the Treasurer now owns 21,366 shares of the company’s stock, valued at $7,223,844.60. The transaction was disclosed in legal filings with the SEC, which can be accessed via this hyperlink. And insider Brian J. Lee sold 3,000 shares of the company in a deal on Tuesday, May 2nd. The shares sold at an average price of $337.66, bringing the total transaction value to his $1,012,980.00. Following the closing of the sale, the insider will own directly 15,052 shares of the company, valued at approximately $5,082,458.32. Disclosure information regarding this sale can be found here. In the past 90 days, insiders sold 34,978,986 shares of the company, worth $660,057,057. Currently, 0.54% of the shares are owned by insiders.
Goldman Sachs Group shares drop 2.0%
GS shares fell $6.28 on Thursday to $313.77. The company’s stock traded 991,039 shares, with an average turnover of 2,589,514 shares. The stock has a market capitalization of $104.31 billion, a price/earnings multiple of 11.39 times, a P/E ratio of 0.91 times, and a beta of 1.38 times. Goldman Sachs Group has a 52-week low of $277.84 and a 52-week high of $389.58. The company has a debt to equity ratio of 2.25, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average price is $327.42 and its 200-day moving average price is $338.90.
Goldman Sachs Group Inc. (NYSE:GS – Free Report) last reported earnings on Tuesday, April 18th. The investment manager reported EPS of $8.79 for the quarter, beating consensus expectations of $8.14 by $0.65. The company had revenue of $12.22 billion for the quarter, compared with consensus expectations of $12.66 billion. Goldman Sachs Group’s net profit margin was 13.23% and return on equity was 9.84%. Quarterly revenue for the business fell 5.5% year-on-year. The company’s EPS in the year-ago quarter was $10.76. Research analysts expect Goldman Sachs Group Inc. EPS to hit $30.38 this year.
Goldman Sachs Group Dividend Announcement
The company also recently announced its quarterly dividend, which was paid on Thursday, June 29. For shareholders of record on Thursday, June 1, he was issued a $2.50 dividend per share. The ex-dividend date was Wednesday, May 31. This equates to an annual dividend of $10.00 and a dividend yield of 3.19%. Goldman Sachs Group has a dividend payout ratio of 35.60%.
Overview of Goldman Sachs Group
Goldman Sachs Group, a financial institution, provides a wide range of financial services to businesses, financial institutions, governments and individuals around the world. It operates through the Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. Global Banking & Markets provides financial advisory services, including strategic advisory services related to mergers and acquisitions, divestitures, corporate defense activities, restructurings and separations. We provide relationship financing through structured and asset-backed financing, acquisition financing, secured financing, and resale agreements.
Want to know if other hedge funds hold GS? Visit HoldingsChannel.com to get the latest Goldman Sachs Group 13F filings and insider trading (NYSE:GS – free report).
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