The Goldman Sachs Group, Inc. (NYSE:GS) Position Trimmed by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 46.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,296 shares of the investment management company's stock after selling 20,582 shares during the period. Cresset Asset Management LLC's holdings in The Goldman Sachs Group were worth $13,339,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stephens Consulting LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Asset Planning Inc purchased a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Curio Wealth LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $30,000. Transce3nd LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $31,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth $34,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling

In other The Goldman Sachs Group news, Director John B. Hess bought 3,904 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were bought at an average price 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 of the company's stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $549.48 on Wednesday. The firm has a market capitalization of $171.46 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.89 and a beta of 1.32. The stock has a fifty day moving average price of $538.36 and a two-hundred day moving average price of $575.48. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-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 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 (EPS) for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion during the quarter, compared to analysts' expectations 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 last year, the company posted $11.58 EPS. As a group, analysts anticipate 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. This represents a $12.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's payout ratio is currently 27.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GS shares. Wells Fargo & Company cut their price objective 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. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Daiwa America cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. JMP Securities decreased their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group increased their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Tuesday, January 21st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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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