Sovereign Financial Group Inc. Sells 688 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Sovereign Financial Group Inc. cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 65.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368 shares of the investment management company's stock after selling 688 shares during the period. Sovereign Financial Group Inc.'s holdings in The Goldman Sachs Group were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GS. Asset Planning Inc bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $29,000. Curio Wealth LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $30,000. Transce3nd LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $31,000. Mascagni Wealth Management Inc. bought a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Finally, Whipplewood Advisors LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $34,000. Institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GS. 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 for the company. in a research report on Friday, April 4th. Citigroup lowered their price target on 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. Oppenheimer cut The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. Barclays lowered their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and an average target price of $593.40.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were acquired at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 1.4%

NYSE GS opened at $614.49 on Friday. The business has a 50 day simple moving average of $555.71 and a 200 day simple moving average of $582.83. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $672.19. The stock has a market capitalization of $188.55 billion, a P/E ratio of 15.15, a P/E/G 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 (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same period last year, the business posted $11.58 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is 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.

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