Cornerstone Wealth Management LLC Buys 499 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Cornerstone Wealth Management LLC lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 53.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,434 shares of the investment management company's stock after purchasing an additional 499 shares during the quarter. Cornerstone Wealth Management LLC's holdings in The Goldman Sachs Group were worth $783,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Shepherd Financial Partners LLC raised its stake in The Goldman Sachs Group by 5.3% during the first quarter. Shepherd Financial Partners LLC now owns 5,700 shares of the investment management company's stock valued at $3,114,000 after purchasing an additional 288 shares in the last quarter. Clarius Group LLC grew its stake in shares of The Goldman Sachs Group by 20.2% in the 1st quarter. Clarius Group LLC now owns 3,046 shares of the investment management company's stock worth $1,664,000 after buying an additional 511 shares in the last quarter. Prosperity Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth about $1,728,000. Marest Capital LLC raised its position in shares of The Goldman Sachs Group by 1.1% during the 1st quarter. Marest Capital LLC now owns 3,255 shares of the investment management company's stock valued at $1,778,000 after buying an additional 34 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of The Goldman Sachs Group by 16.1% in the 1st quarter. Insigneo Advisory Services LLC now owns 4,046 shares of the investment management company's stock valued at $2,210,000 after acquiring an additional 560 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 1.8%

Shares of NYSE:GS opened at $635.69 on Friday. The business's 50 day moving average is $578.87 and its 200 day moving average is $584.22. The stock has a market cap of $195.05 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.87 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $672.19. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $11.58 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.89%. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Citigroup cut their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Royal Bank Of Canada lowered their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 15th. Barclays cut their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Morgan Stanley set a $558.00 target price on shares of The Goldman Sachs Group and gave the company an "equal weight" rating in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $593.40.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the acquisition, the director now directly owns 3,904 shares in the company, valued at $1,997,598.72. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.