The Goldman Sachs Group, Inc. $GS Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 37.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,782 shares of the investment management company’s stock after selling 4,743 shares during the period. Cullinan Associates Inc.’s holdings in The Goldman Sachs Group were worth $6,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GS. Acropolis Investment Management LLC lifted its holdings in The Goldman Sachs Group by 1.8% in the fourth quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock valued at $554,000 after acquiring an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 2.0% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock worth $505,000 after purchasing an additional 11 shares during the period. Optas LLC increased its position in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock worth $2,244,000 after purchasing an additional 11 shares during the last quarter. Pines Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock worth $2,255,000 after purchasing an additional 11 shares during the last quarter. Finally, Welch & Forbes LLC raised its holdings in The Goldman Sachs Group by 0.8% in the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after buying an additional 11 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 0.0%

GS stock traded up $0.07 during midday trading on Friday, hitting $1,056.04. The company’s stock had a trading volume of 1,110,031 shares, compared to its average volume of 1,972,365. The firm has a 50-day simple moving average of $1,017.99 and a 200-day simple moving average of $938.64. The firm has a market capitalization of $311.54 billion, a P/E ratio of 19.30, a PEG ratio of 1.35 and a beta of 1.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a 52-week low of $691.30 and a 52-week high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The business had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. During the same quarter last year, the business posted $14.12 EPS. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group’s payout ratio is 32.89%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GS. Citigroup upped their target price on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Jefferies Financial Group lowered their price objective on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a research report on Monday, April 6th. CICC Research lifted their target price on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Finally, Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $986.91.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

Insiders Place Their Bets

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,681 shares of company stock valued at $31,737,875 over the last quarter. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Profile

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.