The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,867 shares of the investment management company's stock after selling 997 shares during the period. The Goldman Sachs Group accounts for 1.3% of Griffin Asset Management Inc.'s investment portfolio, making the stock its 21st biggest position. Griffin Asset Management Inc.'s holdings in The Goldman Sachs Group were worth $10,853,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. BNC Wealth Management LLC bought a new stake in The Goldman Sachs Group during the first quarter valued at $1,526,000. New England Research & Management Inc. increased its position in shares of The Goldman Sachs Group by 51.6% in the first quarter. New England Research & Management Inc. now owns 8,023 shares of the investment management company's stock worth $4,383,000 after purchasing an additional 2,731 shares during the last quarter. CVA Family Office LLC lifted its position in The Goldman Sachs Group by 5.8% during the first quarter. CVA Family Office LLC now owns 1,153 shares of the investment management company's stock valued at $630,000 after purchasing an additional 63 shares during the last quarter. Everhart Financial Group Inc. raised its position in shares of The Goldman Sachs Group by 5.8% during the 1st quarter. Everhart Financial Group Inc. now owns 2,472 shares of the investment management company's stock valued at $1,351,000 after buying an additional 135 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC grew its position in The Goldman Sachs Group by 12.3% in the first quarter. Twin Peaks Wealth Advisors LLC now owns 465 shares of the investment management company's stock worth $236,000 after acquiring an additional 51 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

GS traded down $12.04 on Friday, reaching $613.07. 1,674,605 shares of the stock were exchanged, compared to its average volume of 2,370,016. The company's 50-day moving average price is $568.13 and its 200 day moving average price is $583.52. 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 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $188.12 billion, a PE ratio of 15.12, a PEG ratio of 0.89 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 13.30% and a net margin of 11.32%. 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 1.96%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GS. Evercore ISI decreased 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 target 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. Morgan Stanley set a $558.00 price objective on shares of The Goldman Sachs Group and gave the stock an "equal weight" rating in a report on Monday, April 7th. Daiwa Capital Markets lowered 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 note on Friday, April 4th. Finally, Wall Street Zen cut shares of The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research report on Saturday. 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $593.40.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess acquired 3,904 shares of the business's stock in a transaction 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 purchase, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Company 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.