Gradient Investments LLC Sells 523 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Gradient Investments LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 76,421 shares of the investment management company’s stock after selling 523 shares during the quarter. The Goldman Sachs Group comprises about 0.9% of Gradient Investments LLC’s holdings, making the stock its 28th biggest holding. Gradient Investments LLC’s holdings in The Goldman Sachs Group were worth $43,760,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Procyon Advisors LLC increased its stake in shares of The Goldman Sachs Group by 5.5% during the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares during the period. Brookstone Capital Management lifted its holdings in shares of The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $5,529,000. Franklin Street Advisors Inc. NC increased its position in The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock worth $21,934,000 after acquiring an additional 2,863 shares during the period. Finally, Nordea Investment Management AB raised its stake in The Goldman Sachs Group by 30.3% in the 4th quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock worth $122,453,000 after purchasing an additional 49,710 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GS. Citigroup raised their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Bank of America upped their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Finally, JMP Securities upped their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $591.06.

The Goldman Sachs Group Trading Down 0.4 %

NYSE GS opened at $636.80 on Friday. The Goldman Sachs Group, Inc. has a 12 month low of $374.24 and a 12 month high of $645.54. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $199.90 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.88 and a beta of 1.38. The business’s 50-day moving average price is $590.34 and its two-hundred day moving average price is $534.48.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter last year, the business earned $5.48 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. On average, analysts expect that The Goldman Sachs Group, Inc. will post 46.81 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 1.88%. The Goldman Sachs Group’s payout ratio is currently 29.59%.

Insider Transactions at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 1,545 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the transaction, the treasurer now directly owns 8,192 shares of the company’s stock, valued at $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the sale, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,017 shares of company stock valued at $19,655,538. Corporate insiders own 0.54% of the company’s stock.

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.