Peapack Gladstone Financial Corp Decreases Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Peapack Gladstone Financial Corp cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,068 shares of the investment management company’s stock after selling 194 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in The Goldman Sachs Group were worth $10,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GS. Morse Asset Management Inc acquired a new stake in shares of The Goldman Sachs Group during the third quarter valued at about $911,000. EP Wealth Advisors LLC boosted its holdings in The Goldman Sachs Group by 70.2% in the third quarter. EP Wealth Advisors LLC now owns 5,699 shares of the investment management company’s stock valued at $2,822,000 after purchasing an additional 2,350 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in The Goldman Sachs Group during the 3rd quarter valued at approximately $304,000. Zacks Investment Management increased its holdings in The Goldman Sachs Group by 24.8% during the 3rd quarter. Zacks Investment Management now owns 1,746 shares of the investment management company’s stock worth $864,000 after purchasing an additional 347 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of The Goldman Sachs Group by 11.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,930 shares of the investment management company’s stock valued at $6,402,000 after purchasing an additional 1,308 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the sale, the insider now directly owns 3,545 shares in the company, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Treasurer Carey Halio sold 1,545 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the transaction, the treasurer now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GS. Citigroup decreased their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Evercore ISI decreased their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Wells Fargo & Company decreased their price target on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $589.19.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $469.57 on Monday. The company has a market capitalization of $146.52 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $387.12 and a one year high of $672.19. The company’s fifty day moving average price is $597.54 and its 200 day moving average price is $573.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $12.36 billion. During the same quarter in the previous year, the firm earned $5.48 EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 2.56%. The Goldman Sachs Group’s dividend payout ratio is 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.