Spire Wealth Management Cuts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Spire Wealth Management lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,324 shares of the investment management company’s stock after selling 65 shares during the quarter. Spire Wealth Management’s holdings in The Goldman Sachs Group were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Advisory Inc. lifted its position in shares of The Goldman Sachs Group by 15.6% during the 3rd quarter. Brown Advisory Inc. now owns 13,462 shares of the investment management company’s stock valued at $4,356,000 after buying an additional 1,812 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of The Goldman Sachs Group by 15.0% during the third quarter. Lindbrook Capital LLC now owns 652 shares of the investment management company’s stock worth $211,000 after buying an additional 85 shares during the period. Brighton Jones LLC increased its stake in The Goldman Sachs Group by 4.5% during the 3rd quarter. Brighton Jones LLC now owns 2,759 shares of the investment management company’s stock worth $893,000 after buying an additional 119 shares during the period. Cambridge Trust Co. grew its stake in The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after purchasing an additional 41 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of The Goldman Sachs Group by 1.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,021 shares of the investment management company’s stock valued at $26,217,000 after purchasing an additional 1,370 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $1.79 during mid-day trading on Tuesday, hitting $445.46. 181,205 shares of the stock traded hands, compared to its average volume of 2,345,011. The company’s 50-day simple moving average is $405.66 and its 200-day simple moving average is $376.21. The firm has a market cap of $144.57 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $447.03. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $12.94 billion. During the same period last year, the firm posted $8.79 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 36.07 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.47%. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Transactions at The Goldman Sachs Group

In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 directly owns 18,408 shares in the company, valued at $7,190,901.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Denis P. Coleman sold 12,680 shares of the 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 completion of the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The disclosure for this sale can be found here. Insiders sold a total of 29,330 shares of company stock valued at $11,713,578 over the last quarter. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 16th. 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. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Oppenheimer increased their price objective on The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Finally, BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $437.04.

About The Goldman Sachs Group

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.