Highland Capital Management LLC Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Highland Capital Management LLC decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 largest holding. Highland Capital Management LLC's holdings in The Goldman Sachs Group were worth $21,982,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GS. Curio Wealth LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $30,000. Godsey & Gibb Inc. lifted its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares in the last quarter. Transce3nd LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter worth about $31,000. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess bought 3,904 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Down 0.2%

NYSE:GS traded down $1.52 on Tuesday, reaching $706.23. The company's stock had a trading volume of 3,250,989 shares, compared to its average volume of 2,385,807. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $714.30. The stock has a 50 day moving average price of $602.45 and a 200 day moving average price of $587.92. The firm has a market cap of $216.70 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth 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 issued its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $14.99 billion. During the same period in the previous year, the firm earned $11.58 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business 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 of this dividend was Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.70%. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GS. Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Barclays reduced their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price target on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Royal Bank Of Canada cut their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a report on Tuesday, April 15th. Finally, JMP Securities lowered 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 report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $595.67.

About The Goldman Sachs Group

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.