1832 Asset Management L.P. Trims Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

1832 Asset Management L.P. lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,531 shares of the investment management company’s stock after selling 316 shares during the period. 1832 Asset Management L.P.’s holdings in The Goldman Sachs Group were worth $2,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC increased its stake in shares of The Goldman Sachs Group by 1.5% in the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after acquiring an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. raised its stake in shares of The Goldman Sachs Group by 1.3% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock valued at $779,000 after buying an additional 24 shares during the last quarter. Regatta Capital Group LLC raised its stake in shares of The Goldman Sachs Group by 2.2% during the 1st quarter. Regatta Capital Group LLC now owns 1,166 shares of the investment management company’s stock valued at $487,000 after buying an additional 25 shares during the last quarter. Powell Investment Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 0.7% in the 1st quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock valued at $1,603,000 after buying an additional 25 shares during the period. Finally, Optas LLC boosted its stake in shares of The Goldman Sachs Group by 2.4% in the first quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock worth $448,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded up $7.32 during mid-day trading on Friday, reaching $499.03. The company’s stock had a trading volume of 2,249,857 shares, compared to its average volume of 2,357,447. The stock has a 50-day moving average of $466.04 and a two-hundred day moving average of $424.70. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12. The stock has a market capitalization of $160.92 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.01 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $509.48.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.40%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

Wall Street Analyst Weigh In

GS has been the subject of a number of analyst reports. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. BMO Capital Markets increased their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Wells Fargo & Company raised their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Morgan Stanley upped their price objective on shares of The Goldman Sachs Group from $475.00 to $513.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI raised their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $484.59.

Insider Activity

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders sold 4,018,500 shares of company stock worth $34,342,615 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.