The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 319,649 shares of the investment management company's stock after selling 24,948 shares during the period. Envestnet Asset Management Inc. owned 0.10% of The Goldman Sachs Group worth $174,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GS. Deutsche Bank AG increased its holdings in The Goldman Sachs Group by 15.4% during the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock worth $594,412,000 after purchasing an additional 138,198 shares during the last quarter. Baxter Bros Inc. boosted its position in The Goldman Sachs Group by 1.0% during the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company's stock worth $8,879,000 after acquiring an additional 151 shares during the period. Erste Asset Management GmbH boosted its position in The Goldman Sachs Group by 5.9% during the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company's stock worth $3,309,000 after acquiring an additional 320 shares during the period. Clear Creek Financial Management LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth $321,000. Finally, Terra Nova Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,643,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Down 2.0%

GS stock opened at $696.78 on Wednesday. The business has a fifty day moving average price of $623.32 and a 200 day moving average price of $593.89. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $726.00. The stock has a market capitalization of $213.80 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 0.97 and a beta of 1.35. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The firm had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. During the same period last year, the firm posted $11.58 EPS. 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 company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is 27.85%.

Analysts Set New Price Targets

GS has been the topic of a number of recent analyst reports. JMP Securities cut their target price on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley increased their target price on The Goldman Sachs Group from $570.00 to $592.00 and gave the company an "equal weight" rating in a research note on Monday, June 23rd. Citigroup decreased their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Evercore ISI raised their price objective on The Goldman Sachs Group from $630.00 to $715.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $614.00.

Insider Transactions at The Goldman Sachs Group

In other news, Director John B. Hess acquired 3,904 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate 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.

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