The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 37.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,410 shares of the investment management company's stock after selling 6,285 shares during the period. The Goldman Sachs Group comprises about 1.7% of Lorne Steinberg Wealth Management Inc.'s holdings, making the stock its 29th largest position. Lorne Steinberg Wealth Management Inc.'s holdings in The Goldman Sachs Group were worth $5,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GS. Sowell Financial Services LLC purchased a new stake in The Goldman Sachs Group in the first quarter valued at approximately $3,071,000. Janney Montgomery Scott LLC increased its holdings in shares of The Goldman Sachs Group by 6.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 121,701 shares of the investment management company's stock valued at $66,484,000 after acquiring an additional 7,819 shares during the period. Mission Wealth Management LP raised its position in The Goldman Sachs Group by 48.1% in the 1st quarter. Mission Wealth Management LP now owns 5,131 shares of the investment management company's stock valued at $2,803,000 after purchasing an additional 1,666 shares during the last quarter. 1900 Wealth Management LLC boosted its stake in 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 during the period. Finally, Abound Wealth Management grew its position in The Goldman Sachs Group by 85.2% during the 1st quarter. Abound Wealth Management now owns 150 shares of the investment management company's stock worth $82,000 after purchasing an additional 69 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JMP Securities reduced their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a research note on Friday, April 4th. Finally, Evercore ISI cut their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. 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 MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target of $593.40.

Insider Buying and Selling

In related news, Director John B. Hess acquired 3,904 shares of the company'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 transaction, the director now owns 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded up $14.09 during trading hours on Monday, hitting $627.63. The stock had a trading volume of 1,868,441 shares, compared to its average volume of 2,371,250. The stock has a market capitalization of $192.58 billion, a price-to-earnings ratio of 15.48, 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 Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $672.19. The stock's fifty day moving average is $568.13 and its two-hundred day moving average is $583.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The firm had revenue of $15.06 billion for the quarter, compared to analysts' expectations 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 prior year, the company earned $11.58 EPS. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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. Investors of record on Friday, May 30th will be given 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 1.91%. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

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.