Hoey Investments Inc. Cuts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Hoey Investments Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 22.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,054 shares of the investment management company’s stock after selling 2,000 shares during the period. The Goldman Sachs Group comprises 0.8% of Hoey Investments Inc.’s investment portfolio, making the stock its 14th biggest position. Hoey Investments Inc.’s holdings in The Goldman Sachs Group were worth $3,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in The Goldman Sachs Group in the fourth quarter valued at $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at $30,000. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group in the fourth quarter valued at $31,000. Transce3nd LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at $31,000. Finally, Godsey & Gibb Inc. increased its holdings in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In other news, Director John B. Hess purchased 3,904 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS opened at $613.07 on Friday. The firm has a market capitalization of $188.12 billion, a PE ratio of 15.12, a PEG ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $672.19. The firm’s 50-day moving average price is $568.13 and its 200 day moving average price is $583.52. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The firm had revenue of $15.06 billion for 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 previous year, the business posted $11.58 earnings per share. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.96%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.85%.

Analyst Ratings Changes

GS has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating for the company in a report on Tuesday, April 15th. Citigroup cut their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Evercore ISI cut their target price on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. cut 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 note on Thursday, April 3rd. Finally, Barclays cut their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $593.40.

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.