The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,766,439 shares of the investment management company’s stock after selling 839,857 shares during the period. Bank of New York Mellon Corp’s holdings in The Goldman Sachs Group were worth $2,156,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GS. Stephens Consulting LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Truvestments Capital LLC acquired a new position in The Goldman Sachs Group in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in The Goldman Sachs Group in the 3rd quarter worth approximately $38,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $45,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price target on The Goldman Sachs Group from $680.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $593.56.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,550 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This trade represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now directly owns 3,545 shares in the company, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock worth $19,692,543 in the last quarter. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS opened at $626.24 on Tuesday. The Goldman Sachs Group, Inc. has a twelve month low of $381.42 and a twelve month high of $672.19. The firm has a market capitalization of $195.41 billion, a PE ratio of 15.44, a PEG ratio of 0.89 and a beta of 1.39. 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’s 50-day moving average price is $612.38 and its 200 day moving average price is $559.91.

The Goldman Sachs Group (NYSE:GS) last issued its 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 return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the previous year, the firm posted $5.48 EPS. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced 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. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

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.