Arrow Financial Corp Has $228,000 Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Arrow Financial Corp cut its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 86.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 417 shares of the investment management company's stock after selling 2,600 shares during the quarter. Arrow Financial Corp's holdings in The Goldman Sachs Group were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Godsey & Gibb Inc. increased its stake in The Goldman Sachs Group by 170.0% in the 1st 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 in the last quarter. Transce3nd LLC purchased a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $31,000. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC increased its position in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after buying an additional 49 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded down $1.97 on Monday, reaching $706.29. 2,002,712 shares of the company traded hands, compared to its average volume of 2,364,879. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $726.00. The company's 50 day moving average is $647.01 and its 200-day moving average is $601.27. The stock has a market capitalization of $216.72 billion, a PE ratio of 15.61, a P/E/G ratio of 0.94 and a beta of 1.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company earned $8.62 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.27%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is presently 26.44%.

Analysts Set New Price Targets

GS has been the subject of a number of recent analyst reports. Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a research report on Friday, April 4th. JMP Securities restated a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $660.00.

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.