Cannell & Co. Has $56.50 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Cannell & Co. reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,455 shares of the investment management company's stock after selling 12,414 shares during the quarter. The Goldman Sachs Group comprises 1.8% of Cannell & Co.'s investment portfolio, making the stock its 15th biggest holding. Cannell & Co.'s holdings in The Goldman Sachs Group were worth $56,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Morgan Stanley increased its stake in The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company's stock valued at $1,842,192,000 after purchasing an additional 412,383 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of The Goldman Sachs Group by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 4,139,767 shares of the investment management company's stock valued at $1,339,505,000 after buying an additional 41,488 shares in the last quarter. Northern Trust Corp raised its stake in shares of The Goldman Sachs Group by 3.2% during the 3rd quarter. Northern Trust Corp now owns 3,339,851 shares of the investment management company's stock worth $1,080,676,000 after buying an additional 104,424 shares during the last quarter. Invesco Ltd. boosted its position in shares of The Goldman Sachs Group by 6.1% in the 3rd quarter. Invesco Ltd. now owns 2,792,239 shares of the investment management company's stock worth $903,485,000 after buying an additional 159,512 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in The Goldman Sachs Group by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,848,113 shares of the investment management company's stock valued at $597,994,000 after acquiring an additional 19,920 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 other news, Director David A. Viniar sold 5,000 shares of the company's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company's stock, valued at $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company's stock, valued at approximately $7,190,901.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David A. Viniar sold 5,000 shares of the business's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,330 shares of company stock worth $11,713,578. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GS. Argus raised shares of The Goldman Sachs Group from a "hold" rating to a "buy" rating and set a $465.00 price target on the stock in a report on Tuesday, April 16th. Daiwa Capital Markets raised The Goldman Sachs Group from a "neutral" rating to an "outperform" rating and upped their target price for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Royal Bank of Canada raised their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 16th. Bank of America boosted their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Finally, Evercore ISI lifted their price objective on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $437.04.

The Goldman Sachs Group Trading Up 0.1 %

NYSE:GS traded up $0.24 during trading hours on Wednesday, reaching $426.95. 2,306,982 shares of the company were exchanged, compared to its average volume of 2,379,190. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $433.43. The stock has a 50 day simple moving average of $402.04 and a 200 day simple moving average of $372.58. The firm has a market cap of $138.56 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.36 and a beta of 1.43. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.79 earnings per share. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 35.86 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group's dividend payout ratio is presently 42.95%.

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.