Wedge Capital Management L L P NC Trims Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Wedge Capital Management L L P NC cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,179 shares of the investment management company's stock after selling 8,498 shares during the quarter. Wedge Capital Management L L P NC's holdings in The Goldman Sachs Group were worth $32,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Planning Inc purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $29,000. Curio Wealth LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $30,000. Godsey & Gibb Inc. boosted its position in shares of The Goldman Sachs Group by 170.0% during the first 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 during the period. Transce3nd LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. 71.21% of the stock is owned by institutional investors.

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 cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal 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 Stock Up 1.4%

The Goldman Sachs Group stock opened at $614.49 on Friday. The firm has a market cap of $188.55 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.89 and a beta of 1.32. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $672.19. The firm has a fifty day moving average price of $555.71 and a two-hundred day moving average price of $582.83.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 11.32% and a return on equity of 13.30%. During the same quarter in the previous year, the firm posted $11.58 EPS. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.95%. The Goldman Sachs Group's payout ratio is 27.85%.

Analyst Ratings Changes

A number of research firms have weighed in on GS. Oppenheimer lowered The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. 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 report on Tuesday, April 15th. Citigroup lowered their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Evercore ISI decreased their target price on 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. Finally, Daiwa Capital Markets cut The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target for the company. in a report on Friday, April 4th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $593.40.

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.

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