Financial Management Professionals Inc. Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Financial Management Professionals Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 33.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118 shares of the investment management company’s stock after selling 59 shares during the quarter. Financial Management Professionals Inc.’s holdings in The Goldman Sachs Group were worth $49,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norway Savings Bank lifted its position in shares of The Goldman Sachs Group by 17.4% during the first quarter. Norway Savings Bank now owns 2,410 shares of the investment management company’s stock valued at $1,007,000 after buying an additional 358 shares during the last quarter. Atwater Malick LLC lifted its position in shares of The Goldman Sachs Group by 0.7% during the first quarter. Atwater Malick LLC now owns 25,210 shares of the investment management company’s stock valued at $10,530,000 after buying an additional 171 shares during the last quarter. AMF Tjanstepension AB purchased a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $28,167,000. Register Financial Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $337,000. Finally, Capital Asset Advisory Services LLC lifted its position in shares of The Goldman Sachs Group by 21.1% during the first quarter. Capital Asset Advisory Services LLC now owns 5,698 shares of the investment management company’s stock valued at $2,325,000 after buying an additional 994 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the transaction, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 stock was 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 approximately $82,299,679.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the transaction, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group Trading Up 1.4 %

Shares of NYSE:GS opened at $452.32 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $471.48. The firm has a market capitalization of $145.86 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.90 and a beta of 1.39. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50 day moving average price is $449.86 and its 200-day moving average price is $410.39.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same quarter last year, the firm posted $8.79 EPS. The business’s revenue was up 16.1% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 36.59 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th were issued a $2.75 dividend. The ex-dividend date was Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.43%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. HSBC increased their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Bank of America increased their price objective on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research report on Tuesday, April 16th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $410.00 to $430.00 in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their price objective 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. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $443.78.

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.