Beacon Financial Group Sells 17 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Beacon Financial Group cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 472 shares of the investment management company’s stock after selling 17 shares during the quarter. Beacon Financial Group’s holdings in The Goldman Sachs Group were worth $270,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in The Goldman Sachs Group by 46.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,618 shares of the investment management company’s stock worth $1,296,000 after acquiring an additional 835 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $226,000. Procyon Advisors LLC grew 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. Creative Planning increased its holdings in The Goldman Sachs Group by 3.5% in the third quarter. Creative Planning now owns 77,025 shares of the investment management company’s stock valued at $38,136,000 after purchasing an additional 2,579 shares during the last quarter. Finally, Swedbank AB lifted its stake in The Goldman Sachs Group by 4.2% in the third quarter. Swedbank AB now owns 339,047 shares of the investment management company’s stock valued at $167,866,000 after buying an additional 13,730 shares during the period. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the completion of the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at approximately $372,404,774. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex S. Golten sold 5,208 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the transaction, the insider now owns 3,545 shares in the company, valued at approximately $2,255,506.25. The trade was a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,475 shares of company stock worth $19,692,543. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays upped their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Oppenheimer lowered their price objective on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $591.06.

The Goldman Sachs Group Stock Up 0.3 %

NYSE:GS opened at $649.17 on Thursday. The stock has a 50-day simple moving average of $601.88 and a 200 day simple moving average of $549.42. The Goldman Sachs Group, Inc. has a 52-week low of $375.20 and a 52-week high of $663.87. The company has a market cap of $201.53 billion, a PE ratio of 16.01, a PEG ratio of 0.91 and a beta of 1.39. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share 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 company had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same period last year, the business earned $5.48 EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

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 paid a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 1.85%. The Goldman Sachs Group’s payout ratio is currently 29.59%.

The Goldman Sachs Group 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.