Cullinan Associates Inc. Cuts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Cullinan Associates Inc. cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 16.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,401 shares of the investment management company's stock after selling 2,803 shares during the period. Cullinan Associates Inc.'s holdings in The Goldman Sachs Group were worth $7,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in The Goldman Sachs Group by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company's stock valued at $3,761,576,000 after purchasing an additional 161,500 shares during the period. Fisher Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company's stock worth $3,524,669,000 after acquiring an additional 112,696 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares during the last quarter. FMR LLC lifted its stake in shares of The Goldman Sachs Group by 23.7% during the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company's stock worth $2,053,614,000 after acquiring an additional 687,711 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of The Goldman Sachs Group by 15.0% during the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock worth $1,885,454,000 after acquiring an additional 428,502 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS traded up $6.47 on Monday, reaching $647.27. 2,017,969 shares of the stock were exchanged, compared to its average volume of 2,374,092. The company's 50-day moving average price is $581.78 and its 200 day moving average price is $584.30. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $672.19. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $198.61 billion, a PE ratio of 15.02, a PEG ratio of 0.87 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 Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The company had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. During the same quarter in the previous year, the firm posted $11.58 EPS. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed 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 1.85%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Insider Activity

In other The Goldman Sachs Group news, Director John B. Hess purchased 3,904 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on The Goldman Sachs Group from $570.00 to $592.00 and gave the stock an "equal weight" rating in a research note on Monday. JMP Securities decreased their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Evercore ISI reduced their price objective on 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 The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $595.67.

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.