Cannell & Co. Decreases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Cannell & Co. lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,455 shares of the investment management company’s stock after selling 12,414 shares during the period. The Goldman Sachs Group makes up approximately 1.8% of Cannell & Co.’s portfolio, making the stock its 15th largest position. Cannell & Co.’s holdings in The Goldman Sachs Group were worth $56,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in shares of The Goldman Sachs Group by 6.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 797 shares of the investment management company’s stock worth $258,000 after purchasing an additional 50 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of The Goldman Sachs Group by 3.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 279,346 shares of the investment management company’s stock worth $90,388,000 after purchasing an additional 8,270 shares during the last quarter. Wells Trecaso Financial Group LLC lifted its position in shares of The Goldman Sachs Group by 1.4% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 20,669 shares of the investment management company’s stock worth $6,688,000 after purchasing an additional 295 shares during the last quarter. Raymond James & Associates lifted its position in shares of The Goldman Sachs Group by 42.1% during the 3rd quarter. Raymond James & Associates now owns 431,351 shares of the investment management company’s stock worth $139,572,000 after purchasing an additional 127,805 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of The Goldman Sachs Group by 5.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 113,323 shares of the investment management company’s stock worth $36,668,000 after purchasing an additional 5,670 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction dated 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 transaction, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Trading Down 0.0 %

Shares of NYSE:GS traded down $0.04 during trading on Wednesday, reaching $426.67. The stock had a trading volume of 528,843 shares, compared to its average volume of 2,356,700. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $433.33. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The business has a fifty day moving average price of $402.04 and a 200-day moving average price of $372.58. The stock has a market cap of $138.47 billion, a P/E ratio of 16.65, a PEG ratio of 1.36 and a beta of 1.43.

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

The Goldman Sachs Group Dividend Announcement

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

Analysts Set New Price Targets

GS has been the subject of several recent analyst reports. Edward Jones began coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Royal Bank of Canada boosted their price objective on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Bank of America boosted their price objective on shares of 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, HSBC boosted their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $437.04.

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.