Jennison Associates LLC Sells 46,344 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Jennison Associates LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,054,478 shares of the investment management company's stock after selling 46,344 shares during the period. Jennison Associates LLC owned 0.34% of The Goldman Sachs Group worth $576,051,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Prestige Wealth Management Group LLC raised its stake in The Goldman Sachs Group by 1.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company's stock worth $950,000 after acquiring an additional 18 shares in the last quarter. Wynn Capital LLC grew its holdings in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after purchasing an additional 20 shares during the last quarter. 1900 Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 2.6% during the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after purchasing an additional 20 shares in the last quarter. World Equity Group Inc. lifted its holdings in The Goldman Sachs Group by 0.9% during the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after purchasing an additional 20 shares during the last quarter. Finally, Register Financial Advisors LLC boosted its position in The Goldman Sachs Group by 2.5% in the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after buying an additional 20 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley increased their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday. HSBC reiterated a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday. Finally, Daiwa Capital Markets cut shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective on the stock. in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $649.29.

The Goldman Sachs Group Price Performance

GS traded up $2.47 during trading on Friday, reaching $708.31. The stock had a trading volume of 1,923,088 shares, compared to its average volume of 2,364,984. The stock has a 50 day moving average of $644.19 and a two-hundred day moving average of $599.95. The firm has a market capitalization of $217.34 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $726.00. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company earned $8.62 earnings per share. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

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.