First Citizens Bank & Trust Co. Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

First Citizens Bank & Trust Co. reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,029 shares of the investment management company's stock after selling 575 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in The Goldman Sachs Group were worth $4,386,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Pointe Capital Management LLC grew its holdings in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company's stock valued at $951,000 after purchasing an additional 16 shares in the last quarter. Blackston Financial Advisory Group LLC grew its holdings in shares of The Goldman Sachs Group by 2.1% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 831 shares of the investment management company's stock valued at $476,000 after purchasing an additional 17 shares in the last quarter. Morris Financial Concepts Inc. grew its holdings in shares of The Goldman Sachs Group by 3.5% in the fourth quarter. Morris Financial Concepts Inc. now owns 536 shares of the investment management company's stock valued at $307,000 after purchasing an additional 18 shares in the last quarter. Delta Financial Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 6,861 shares of the investment management company's stock valued at $3,929,000 after purchasing an additional 18 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in shares of The Goldman Sachs Group by 1.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company's stock valued at $950,000 after purchasing an additional 18 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 1.9%

The Goldman Sachs Group stock traded down $12.04 during trading hours on Friday, reaching $613.07. The stock had a trading volume of 1,674,605 shares, compared to its average volume of 2,370,009. The company has a market cap of $188.12 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.89 and a beta of 1.32. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business's 50 day moving average price is $565.10 and its 200-day moving average price is $583.47. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $672.19.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its 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 business had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same period in the previous year, the company posted $11.58 earnings per share. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.96%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.85%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup cut their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target for the company. in a research report on Friday, April 4th. Daiwa America downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Evercore ISI lowered their price target on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Morgan Stanley set a $558.00 price target on The Goldman Sachs Group and gave the stock an "equal weight" rating in a research report on Monday, April 7th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $593.40.

Insider Activity

In other news, Director John B. Hess acquired 3,904 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the acquisition, the director now 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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.