Wedbush Securities Inc. Reduces Position in The Goldman Sachs Group, Inc. $GS

Wedbush Securities Inc. trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,467 shares of the investment management company’s stock after selling 786 shares during the period. Wedbush Securities Inc.’s holdings in The Goldman Sachs Group were worth $5,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Varma Mutual Pension Insurance Co increased its holdings in shares of The Goldman Sachs Group by 22.1% in the third quarter. Varma Mutual Pension Insurance Co now owns 54,700 shares of the investment management company’s stock valued at $43,560,000 after purchasing an additional 9,900 shares during the period. Leuthold Group LLC lifted its holdings in shares of The Goldman Sachs Group by 3.3% during the third quarter. Leuthold Group LLC now owns 17,953 shares of the investment management company’s stock worth $14,297,000 after purchasing an additional 568 shares during the period. Westover Capital Advisors LLC boosted its position in The Goldman Sachs Group by 0.8% in the third quarter. Westover Capital Advisors LLC now owns 12,002 shares of the investment management company’s stock valued at $9,558,000 after buying an additional 95 shares during the last quarter. Mitchell Capital Management Co. boosted its position in The Goldman Sachs Group by 5.6% in the third quarter. Mitchell Capital Management Co. now owns 11,011 shares of the investment management company’s stock valued at $8,769,000 after buying an additional 587 shares during the last quarter. Finally, Savvy Advisors Inc. increased its holdings in The Goldman Sachs Group by 9.3% in the 3rd quarter. Savvy Advisors Inc. now owns 3,617 shares of the investment management company’s stock worth $2,880,000 after buying an additional 308 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $945.93 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.29. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70. The stock’s 50-day moving average price is $916.78 and its 200-day moving average price is $821.46. The stock has a market capitalization of $283.71 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the business posted $11.95 earnings per share. The Goldman Sachs Group’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be paid a $4.50 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s dividend payout ratio is 35.09%.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on shares of The Goldman Sachs Group from $900.00 to $1,030.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Dbs Bank upped their price target on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Barclays lifted their price objective on The Goldman Sachs Group from $850.00 to $1,048.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. HSBC upped their target price on The Goldman Sachs Group from $742.00 to $802.00 in a research note on Friday, February 6th. Finally, Autonomous Res reduced their price target on The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $916.86.

View Our Latest Stock Report on GS

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 11,623 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $941.57, for a total transaction of $10,943,868.11. Following the completion of the sale, the chief financial officer owned 29,342 shares of the company’s stock, valued at $27,627,546.94. The trade was a 28.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Solomon sold 272 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $938.92, for a total transaction of $255,386.24. Following the transaction, the chief executive officer owned 125,527 shares of the company’s stock, valued at approximately $117,859,810.84. This trade represents a 0.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 101,428 shares of company stock worth $96,805,313 in the last 90 days. 0.55% of the stock is owned by insiders.

About The Goldman Sachs Group

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

See Also

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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