Chevy Chase Trust Holdings LLC Trims Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Chevy Chase Trust Holdings LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 489,566 shares of the investment management company's stock after selling 11,504 shares during the quarter. The Goldman Sachs Group comprises about 0.9% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 17th biggest position. Chevy Chase Trust Holdings LLC owned 0.16% of The Goldman Sachs Group worth $267,445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GS. Petros Family Wealth LLC raised its holdings in shares of The Goldman Sachs Group by 4.4% in the 1st quarter. Petros Family Wealth LLC now owns 805 shares of the investment management company's stock valued at $440,000 after purchasing an additional 34 shares in the last quarter. Embree Financial Group increased its holdings in The Goldman Sachs Group by 5.3% during the first quarter. Embree Financial Group now owns 1,426 shares of the investment management company's stock valued at $779,000 after buying an additional 72 shares during the period. Legacy Advisors LLC lifted its holdings in The Goldman Sachs Group by 22.3% during the first quarter. Legacy Advisors LLC now owns 2,065 shares of the investment management company's stock worth $1,128,000 after buying an additional 376 shares during the period. Asset Management One Co. Ltd. boosted its position in The Goldman Sachs Group by 6.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 239,191 shares of the investment management company's stock valued at $130,668,000 after acquiring an additional 15,043 shares in the last quarter. Finally, Narwhal Capital Management raised its position in shares of The Goldman Sachs Group by 18.8% in the 1st quarter. Narwhal Capital Management now owns 33,564 shares of the investment management company's stock worth $18,336,000 after acquiring an additional 5,315 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GS. JPMorgan Chase & Co. dropped their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Evercore ISI lowered their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Barclays reduced their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Daiwa Capital Markets cut shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price for the company. in a research report on Friday, April 4th. Finally, Wells Fargo & Company cut their price target on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and an average target price of $595.67.

Insider Buying and Selling

In other The Goldman Sachs Group news, Director John B. Hess bought 3,904 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was bought 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 now directly owns 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of GS traded up $7.76 during trading hours on Wednesday, reaching $669.87. 1,566,117 shares of the company traded hands, compared to its average volume of 2,372,575. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The business has a fifty day moving average price of $587.73 and a 200-day moving average price of $585.16. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $672.19. The stock has a market capitalization of $205.54 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.88 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same quarter in the previous year, the firm posted $11.58 EPS. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 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 Friday, June 27th. Investors of record on Friday, May 30th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 1.79%. The Goldman Sachs Group's dividend payout ratio is currently 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.