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

Envestnet Asset Management Inc. lowered its stake 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 disclosure with the Securities and Exchange Commission. The firm owned 319,649 shares of the investment management company's stock after selling 24,948 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of The Goldman Sachs Group worth $174,621,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Deutsche Bank AG grew its holdings in The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock worth $594,412,000 after acquiring an additional 138,198 shares during the period. Baxter Bros Inc. grew its holdings in The Goldman Sachs Group by 1.0% during the fourth 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 grew its holdings in The Goldman Sachs Group by 5.9% during the fourth 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 first quarter worth $321,000. Finally, Terra Nova Asset Management LLC acquired a new position in The Goldman Sachs Group during the first quarter worth $1,643,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GS. Morgan Stanley reissued an "equal weight" rating on shares of The Goldman Sachs Group in a report on Thursday. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday. Barclays lowered their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Daiwa Capital Markets lowered The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price on the stock. in a report on Friday, April 4th. Finally, Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $614.00.

The Goldman Sachs Group Trading Down 0.7%

NYSE GS traded down $5.01 during trading hours on Friday, hitting $704.11. 1,623,579 shares of the company's stock were exchanged, compared to its average volume of 2,681,274. The business's 50 day moving average is $629.38 and its 200-day moving average is $595.55. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $726.00. The firm has a market capitalization of $216.05 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 0.95 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 released its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the prior year, the business posted $11.58 earnings per share. As a group, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were issued a $3.00 dividend. The ex-dividend date was Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.70%. The Goldman Sachs Group's dividend payout ratio (DPR) is 27.85%.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess acquired 3,904 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the acquisition, the director directly owned 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently 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.