The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,238 shares of the investment management company's stock after selling 428 shares during the quarter. The Goldman Sachs Group accounts for about 1.3% of Highland Capital Management LLC's holdings, making the stock its 15th biggest position. Highland Capital Management LLC's holdings in The Goldman Sachs Group were worth $21,982,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Prestige Wealth Management Group LLC raised its position in shares of The Goldman Sachs Group by 1.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company's stock valued at $950,000 after acquiring an additional 18 shares in the last quarter. Wynn Capital LLC grew its stake in The Goldman Sachs Group by 0.3% during the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares during the last quarter. 1900 Wealth Management LLC grew its stake in The Goldman Sachs Group by 2.6% during the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares during the last quarter. World Equity Group Inc. grew its stake in The Goldman Sachs Group by 0.9% during the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after buying an additional 20 shares during the last quarter. Finally, Register Financial Advisors LLC grew its stake in The Goldman Sachs Group by 2.5% during the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Activity at The Goldman Sachs Group

In related news, Director John B. Hess bought 3,904 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the acquisition, the director now directly owns 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on GS. Daiwa Capital Markets downgraded 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 note on Friday, April 4th. Evercore ISI lowered their price objective on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Wall Street Zen cut The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Oppenheimer cut The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $595.67.

The Goldman Sachs Group Trading Up 0.5%

Shares of GS stock opened at $690.75 on Friday. The stock has a 50-day simple moving average of $598.32 and a 200 day simple moving average of $587.13. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $694.20. The stock has a market capitalization of $211.95 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.94 and a beta of 1.32. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating 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 business had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. During the same quarter last year, the business posted $11.58 earnings per share. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 1.74%. The Goldman Sachs Group's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.