Asset Dedication LLC Lowers Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Asset Dedication LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,363 shares of the investment management company's stock after selling 441 shares during the period. Asset Dedication LLC's holdings in The Goldman Sachs Group were worth $4,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GS. Cahaba Wealth Management Inc. raised its position in The Goldman Sachs Group by 9.0% in the first quarter. Cahaba Wealth Management Inc. now owns 495 shares of the investment management company's stock worth $271,000 after acquiring an additional 41 shares during the period. CWM LLC raised its holdings in The Goldman Sachs Group by 3.7% in the 1st quarter. CWM LLC now owns 15,063 shares of the investment management company's stock worth $8,229,000 after purchasing an additional 532 shares during the period. TFR Capital LLC. lifted its position in The Goldman Sachs Group by 132.8% during the first quarter. TFR Capital LLC. now owns 1,334 shares of the investment management company's stock valued at $729,000 after purchasing an additional 761 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in The Goldman Sachs Group by 39.8% during the first quarter. Pittenger & Anderson Inc. now owns 21,522 shares of the investment management company's stock valued at $11,757,000 after purchasing an additional 6,128 shares during the period. Finally, Westmount Partners LLC increased its position in The Goldman Sachs Group by 16.3% in the first quarter. Westmount Partners LLC now owns 529 shares of the investment management company's stock worth $289,000 after buying an additional 74 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

NYSE:GS traded down $5.01 during trading hours on Friday, reaching $704.11. The stock had a trading volume of 1,681,679 shares, compared to its average volume of 2,388,916. The company has a 50 day moving average price of $632.13 and a two-hundred day moving average price of $596.48. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $726.00. The stock has a market capitalization of $216.05 billion, a PE ratio of 16.34, a PEG ratio of 0.96 and a beta of 1.35. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the previous year, the firm posted $11.58 EPS. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GS. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Barclays reduced their price objective on shares of 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, Morgan Stanley restated an "equal weight" rating on shares of The Goldman Sachs Group in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $614.00.

Insiders Place Their Bets

In related news, Director John B. Hess purchased 3,904 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director owned 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.55% of the stock is owned by company insiders.

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.