The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Lowered by Shorepath Capital Management LLC

Shorepath Capital Management LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the first quarter, Holdings Channel reports. The institutional investor owned 26,389 shares of the investment management company’s stock after selling 179 shares during the quarter. The Goldman Sachs Group accounts for approximately 8.7% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Shorepath Capital Management LLC’s holdings in The Goldman Sachs Group were worth $11,022,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GS. First United Bank & Trust purchased a new stake in The Goldman Sachs Group during the 4th quarter worth about $26,000. Versant Capital Management Inc increased its position in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares during the period. Pineridge Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth about $29,000. Truvestments Capital LLC grew its stake in The Goldman Sachs Group by 88.0% during the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 44 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on GS shares. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets upped their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, HSBC increased their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $440.57.

Insiders Place Their Bets

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Down 0.1 %

Shares of NYSE:GS traded down $0.67 during trading on Wednesday, reaching $456.71. 880,800 shares of the company traded hands, compared to its average volume of 2,273,562. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $471.48. The firm has a market capitalization of $147.27 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 0.92 and a beta of 1.39. The business’s fifty day moving average is $446.99 and its 200-day moving average is $409.11.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The business had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. During the same quarter in the prior year, the company posted $8.79 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 36.63 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is 42.95%.

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.