The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,712 shares of the investment management company’s stock after selling 138 shares during the quarter. RNC Capital Management LLC’s holdings in The Goldman Sachs Group were worth $660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Trust Co. raised its stake in The Goldman Sachs Group by 82.0% in the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 41 shares during the last quarter. Truvestments Capital LLC raised its stake in The Goldman Sachs Group by 88.0% in the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 44 shares during the last quarter. BKM Wealth Management LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at about $32,000. Pacific Center for Financial Services acquired a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $33,000. Finally, Worth Asset Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GS shares. UBS Group upped their price objective on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Edward Jones began coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating for the company. Barclays boosted their target price on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $440.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, January 17th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $407.75.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $415.21 on Thursday. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $416.76. The firm has a market cap of $134.75 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.56 and a beta of 1.42. The business’s 50 day moving average is $387.82 and its two-hundred day moving average is $357.13. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $1.86. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The company had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the prior year, the business posted $3.32 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that The Goldman Sachs Group, Inc. will post 33.13 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be paid a dividend of $2.75 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $11.00 annualized dividend and a yield of 2.65%. The Goldman Sachs Group’s dividend payout ratio is currently 48.20%.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the completion of the transaction, the insider now owns 10,121 shares of the company’s stock, valued at $3,809,443.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Brian J. Lee sold 3,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the transaction, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Insiders sold 38,907 shares of company stock valued at $15,080,021 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

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.