Allspring Global Investments Holdings LLC Trims Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Allspring Global Investments Holdings LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 109,330 shares of the investment management company's stock after selling 1,524 shares during the period. Allspring Global Investments Holdings LLC's holdings in The Goldman Sachs Group were worth $59,962,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Curio Wealth LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $30,000. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter worth $31,000. Transce3nd LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $31,000. Godsey & Gibb Inc. increased its stake in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after purchasing an additional 34 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $34,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GS. Daiwa Capital Markets cut The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a research report on Friday, April 4th. JPMorgan Chase & Co. dropped their target price on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Barclays decreased their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wall Street Zen cut shares of The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Wells Fargo & Company reduced their target price on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $603.73.

Insiders Place Their Bets

In related news, Director John B. Hess acquired 3,904 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares of the company's stock, valued at $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS traded up $8.29 during trading hours on Wednesday, reaching $714.75. The company's stock had a trading volume of 1,706,835 shares, compared to its average volume of 2,385,725. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The company's 50-day moving average is $606.17 and its two-hundred day moving average is $588.74. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $718.68. The stock has a market cap of $219.31 billion, a PE ratio of 16.57, a PEG ratio of 0.97 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the prior year, the firm earned $11.58 earnings per share. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

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.