Cullinan Associates Inc. Decreases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Cullinan Associates Inc. trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,816 shares of the investment management company’s stock after selling 3,618 shares during the period. Cullinan Associates Inc.’s holdings in The Goldman Sachs Group were worth $10,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Waldron Private Wealth LLC lifted its holdings in The Goldman Sachs Group by 0.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the period. First Pacific Financial raised its holdings in shares of The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after acquiring an additional 20 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in The Goldman Sachs Group by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock worth $583,000 after acquiring an additional 20 shares during the period. Tanager Wealth Management LLP boosted its holdings in The Goldman Sachs Group by 3.6% in the third quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock valued at $282,000 after acquiring an additional 20 shares in the last quarter. Finally, M3 Advisory Group LLC increased its position in The Goldman Sachs Group by 3.9% during the 3rd quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after purchasing an additional 21 shares during the period. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GS shares. Bank of America raised their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Stock Down 0.0 %

Shares of NYSE GS traded down $0.14 during midday trading on Friday, hitting $524.36. The stock had a trading volume of 98,094 shares, compared to its average volume of 2,198,357. The company has a market cap of $169.09 billion, a P/E ratio of 20.48, a PEG ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The business’s 50 day moving average is $499.70 and its 200-day moving average is $471.74. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $540.51.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the business posted $5.47 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.