Comerica Bank Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Comerica Bank lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 85,998 shares of the investment management company's stock after selling 2,754 shares during the period. Comerica Bank's holdings in The Goldman Sachs Group were worth $49,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Jackson Grant Investment Advisers Inc. lifted its position in The Goldman Sachs Group by 10.9% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company's stock valued at $93,000 after buying an additional 16 shares during the period. Ledyard National Bank lifted its position in The Goldman Sachs Group by 3.4% in the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company's stock valued at $278,000 after acquiring an additional 16 shares in the last quarter. Seelaus Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 2.5% during the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company's stock valued at $378,000 after buying an additional 16 shares during the last quarter. Pointe Capital Management LLC grew its position in The Goldman Sachs Group by 1.0% in the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company's stock worth $951,000 after purchasing an additional 16 shares during the period. Finally, Genesee Capital Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company's stock worth $1,024,000 after acquiring an additional 17 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 2.3 %

Shares of NYSE GS traded up $12.95 during mid-day trading on Friday, reaching $566.78. 2,881,467 shares of the company were exchanged, compared to its average volume of 2,373,151. The Goldman Sachs Group, Inc. has a 1 year low of $434.92 and a 1 year high of $672.19. The firm has a 50-day moving average of $540.70 and a 200 day moving average of $574.80. The stock has a market cap of $176.86 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.89 and a beta of 1.33. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating the consensus estimate of $12.57 by $1.55. The business had revenue of $15.06 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $11.58 earnings per share. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GS. 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 note on Tuesday, April 1st. JPMorgan Chase & Co. dropped their target price on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. JMP Securities dropped 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 report on Tuesday, April 8th. Finally, Royal Bank of Canada reduced their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 15th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $593.40.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director now directly owns 3,904 shares of the company's stock, valued at $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by insiders.

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.