The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 66.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,929 shares of the investment management company’s stock after selling 13,996 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in The Goldman Sachs Group were worth $2,651,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its holdings in shares of The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after purchasing an additional 412,383 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of The Goldman Sachs Group by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 4,139,767 shares of the investment management company’s stock valued at $1,339,505,000 after acquiring an additional 41,488 shares during the period. Northern Trust Corp raised its holdings in shares of The Goldman Sachs Group by 3.2% during the third quarter. Northern Trust Corp now owns 3,339,851 shares of the investment management company’s stock valued at $1,080,676,000 after acquiring an additional 104,424 shares during the period. Invesco Ltd. raised its holdings in shares of The Goldman Sachs Group by 6.1% during the third quarter. Invesco Ltd. now owns 2,792,239 shares of the investment management company’s stock valued at $903,485,000 after acquiring an additional 159,512 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of The Goldman Sachs Group by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,848,113 shares of the investment management company’s stock valued at $597,994,000 after acquiring an additional 19,920 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GS has been the topic of several research reports. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup upped their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Edward Jones initiated coverage on shares of The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $437.04.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the sale, the treasurer now directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded down $3.27 during midday trading on Tuesday, reaching $427.54. 862,738 shares of the company’s stock were exchanged, compared to its average volume of 2,368,059. The firm has a market capitalization of $138.75 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company’s 50 day simple moving average is $401.20 and its two-hundred day simple moving average is $371.75. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $433.33. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same period in the previous year, the business earned $8.79 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 35.86 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.57%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

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.