The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Trust Point Inc.

Trust Point Inc. decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,607 shares of the investment management company's stock after selling 983 shares during the quarter. Trust Point Inc.'s holdings in The Goldman Sachs Group were worth $1,970,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abound Wealth Management lifted its holdings in The Goldman Sachs Group by 85.2% in the first quarter. Abound Wealth Management now owns 150 shares of the investment management company's stock worth $82,000 after purchasing an additional 69 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in The Goldman Sachs Group by 39.0% in the first quarter. Bank Pictet & Cie Europe AG now owns 1,415 shares of the investment management company's stock worth $773,000 after purchasing an additional 397 shares during the period. Trust Co. of Toledo NA OH lifted its holdings in The Goldman Sachs Group by 2.7% in the first quarter. Trust Co. of Toledo NA OH now owns 1,936 shares of the investment management company's stock worth $1,058,000 after purchasing an additional 50 shares during the period. Morton Capital Management LLC CA lifted its holdings in The Goldman Sachs Group by 11.5% in the first quarter. Morton Capital Management LLC CA now owns 532 shares of the investment management company's stock worth $290,000 after purchasing an additional 55 shares during the period. Finally, Fortis Advisors LLC lifted its holdings in The Goldman Sachs Group by 53.8% in the first quarter. Fortis Advisors LLC now owns 715 shares of the investment management company's stock worth $391,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the subject of several research analyst reports. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Evercore ISI dropped their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Oppenheimer cut shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 19th. Morgan Stanley set a $558.00 price target on shares of The Goldman Sachs Group and gave the stock an "equal weight" rating in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. One 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $593.40.

Insider Activity

In other news, Director John B. Hess purchased 3,904 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the purchase, the director now owns 3,904 shares in the company, valued at $1,997,598.72. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Price Performance

Shares of GS opened at $613.07 on Monday. The company has a market capitalization of $188.12 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business's 50-day moving average is $568.13 and its 200-day moving average is $583.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its 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 company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same quarter in the prior year, the company earned $11.58 EPS. Equities research 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.96%. The Goldman Sachs Group's dividend payout ratio is 27.85%.

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.

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