Oppenheimer Asset Management Inc. Sells 2,353 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Oppenheimer Asset Management Inc. lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,009 shares of the investment management company's stock after selling 2,353 shares during the period. Oppenheimer Asset Management Inc.'s holdings in The Goldman Sachs Group were worth $10,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Crewe Advisors LLC raised its stake in shares of The Goldman Sachs Group by 9.3% during the 1st quarter. Crewe Advisors LLC now owns 340 shares of the investment management company's stock worth $186,000 after purchasing an additional 29 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of The Goldman Sachs Group by 6.7% during the 1st quarter. Continuum Advisory LLC now owns 318 shares of the investment management company's stock worth $174,000 after purchasing an additional 20 shares in the last quarter. Runnymede Capital Advisors Inc. raised its stake in shares of The Goldman Sachs Group by 244.1% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 117 shares of the investment management company's stock worth $64,000 after purchasing an additional 83 shares in the last quarter. M3 Advisory Group LLC raised its stake in shares of The Goldman Sachs Group by 6.6% during the 1st quarter. M3 Advisory Group LLC now owns 599 shares of the investment management company's stock worth $327,000 after purchasing an additional 37 shares in the last quarter. Finally, TrueMark Investments LLC raised its stake in shares of The Goldman Sachs Group by 46.8% during the 1st quarter. TrueMark Investments LLC now owns 8,424 shares of the investment management company's stock worth $4,602,000 after purchasing an additional 2,684 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

GS opened at $647.27 on Tuesday. The firm has a market cap of $198.61 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $672.19. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The business's fifty day moving average is $584.65 and its 200-day moving average is $584.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same period in the prior year, the firm posted $11.58 EPS. Sell-side analysts expect 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 announced 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. This represents a $12.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.85%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group 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 acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the transaction, the director now directly owns 3,904 shares in the company, valued at $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on GS. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Royal Bank Of Canada dropped their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on 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. JMP Securities dropped their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and an average 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.

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