Raymond James Financial Services Advisors Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,709 shares of the investment management company’s stock after selling 9,432 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in The Goldman Sachs Group were worth $35,233,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of GS. Magnus Financial Group LLC boosted its stake in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Magnus Financial Group LLC now owns 2,933 shares of the investment management company’s stock valued at $1,007,000 after purchasing an additional 28 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in shares of The Goldman Sachs Group by 0.6% during the fourth quarter. Aviance Capital Partners LLC now owns 4,866 shares of the investment management company’s stock valued at $1,671,000 after purchasing an additional 28 shares in the last quarter. Platform Technology Partners boosted its stake in shares of The Goldman Sachs Group by 0.7% during the fourth quarter. Platform Technology Partners now owns 4,218 shares of the investment management company’s stock valued at $1,449,000 after purchasing an additional 29 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of The Goldman Sachs Group by 1.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,040 shares of the investment management company’s stock valued at $701,000 after purchasing an additional 29 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in shares of The Goldman Sachs Group by 23.3% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 164 shares of the investment management company’s stock valued at $56,000 after purchasing an additional 31 shares in the last quarter. 76.90% of the stock is owned by institutional investors and hedge funds.
The Goldman Sachs Group Trading Down 0.7 %
NYSE GS opened at $312.39 on Tuesday. The company has a market cap of $103.85 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.85 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 52 week low of $277.84 and a 52 week high of $389.58. The business has a 50 day moving average price of $329.92 and a 200-day moving average price of $340.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.25.
The Goldman Sachs Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be issued a dividend of $2.50 per share. The ex-dividend date is Wednesday, May 31st. This represents a $10.00 annualized dividend and a dividend yield of 3.20%. The Goldman Sachs Group’s dividend payout ratio is 35.60%.
Insider Activity
In related news, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $21.61, for a total transaction of $536,348,811.53. Following the completion of the sale, the insider now owns 110,337 shares in the company, valued at $2,384,382.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $332.67, for a total transaction of $2,420,839.59. Following the completion of the sale, the insider now owns 4,334 shares in the company, valued at $1,441,791.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $21.61, for a total value of $536,348,811.53. Following the sale, the insider now owns 110,337 shares of the company’s stock, valued at approximately $2,384,382.57. The disclosure for this sale can be found here. Insiders sold a total of 33,833,500 shares of company stock worth $646,620,506 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on The Goldman Sachs Group from $329.00 to $337.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. JMP Securities lifted their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Wells Fargo & Company cut their price objective on The Goldman Sachs Group from $420.00 to $390.00 and set an “overweight” rating on the stock in a research note on Monday, April 3rd. Royal Bank of Canada lifted their price objective on The Goldman Sachs Group from $339.00 to $375.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets cut their price objective on The Goldman Sachs Group from $429.00 to $414.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $389.17.
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 resale agreements.
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