Envestnet Asset Management Inc. Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Envestnet Asset Management Inc. lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. 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 about 0.10% of The Goldman Sachs Group worth $174,621,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC boosted its position in The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $583,000. Highview Capital Management LLC DE increased its holdings in The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after purchasing an additional 171 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in The Goldman Sachs Group by 5.4% in the fourth quarter. Proficio Capital Partners LLC now owns 7,916 shares of the investment management company's stock valued at $4,533,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GS shares. Oppenheimer lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. Evercore ISI upped their price objective on shares of The Goldman Sachs Group from $630.00 to $715.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research report on Tuesday. Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Barclays decreased their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target of $614.00.

The Goldman Sachs Group Stock Down 0.1%

GS stock traded down $0.44 during trading on Wednesday, reaching $696.84. The stock had a trading volume of 1,763,240 shares, compared to its average volume of 2,401,894. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $213.82 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 0.97 and a beta of 1.35. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $726.00. The company's 50 day moving average is $623.32 and its two-hundred day moving average is $593.89.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results 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 Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. 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 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's payout ratio is 27.85%.

Insider Buying and Selling

In other news, Director John B. Hess acquired 3,904 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director owned 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company's stock.

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.