Wedbush Securities Inc. Trims Stake in The Goldman Sachs Group, Inc. $GS

Wedbush Securities Inc. lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,467 shares of the investment management company’s stock after selling 786 shares during the period. Wedbush Securities Inc.’s holdings in The Goldman Sachs Group were worth $5,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in The Goldman Sachs Group in the 3rd quarter valued at $26,000. First PREMIER Bank purchased a new stake in shares of The Goldman Sachs Group during the third quarter valued at $28,000. Corundum Trust Company INC bought a new position in shares of The Goldman Sachs Group in the third quarter worth about $29,000. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $31,000. Finally, Elevation Wealth Partners LLC increased its stake in The Goldman Sachs Group by 100.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after buying an additional 20 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GS shares. Dbs Bank raised their target price on shares of The Goldman Sachs Group from $800.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Royal Bank Of Canada raised their price objective on The Goldman Sachs Group from $900.00 to $1,030.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Citigroup upped their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Jefferies Financial Group increased their price target on The Goldman Sachs Group from $898.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $916.86.

View Our Latest Stock Analysis on GS

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 4,863 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $923.75, for a total transaction of $4,492,196.25. Following the completion of the sale, the chief accounting officer owned 10,301 shares in the company, valued at approximately $9,515,548.75. This represents a 32.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer Carey Halio sold 2,846 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $927.17, for a total value of $2,638,725.82. Following the completion of the sale, the treasurer directly owned 2,017 shares of the company’s stock, valued at approximately $1,870,101.89. This represents a 58.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,428 shares of company stock valued at $96,805,313 over the last quarter. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Down 0.3%

Shares of NYSE GS opened at $945.93 on Thursday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $984.70. The business has a fifty day moving average price of $916.78 and a 200 day moving average price of $821.46. The stock has a market capitalization of $283.71 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its earnings results on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $2.03. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.30 billion. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.19%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $11.95 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio is currently 35.09%.

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The Goldman Sachs Group Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

See Also

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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