Advisors Asset Management Inc. Sells 3,398 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Advisors Asset Management Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,006 shares of the investment management company’s stock after selling 3,398 shares during the period. Advisors Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $20,618,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. PDS Planning Inc boosted its stake in shares of The Goldman Sachs Group by 1.6% in the 4th quarter. PDS Planning Inc now owns 1,423 shares of the investment management company’s stock worth $815,000 after buying an additional 22 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in The Goldman Sachs Group by 5.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 13,638 shares of the investment management company’s stock valued at $7,809,000 after acquiring an additional 708 shares during the period. Tocqueville Asset Management L.P. increased its holdings in shares of The Goldman Sachs Group by 96.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 32,868 shares of the investment management company’s stock worth $18,821,000 after purchasing an additional 16,125 shares during the period. Flagship Wealth Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth $112,000. Finally, Cozad Asset Management Inc. grew its position in The Goldman Sachs Group by 107.0% in the fourth quarter. Cozad Asset Management Inc. now owns 16,784 shares of the investment management company’s stock worth $9,611,000 after acquiring an additional 8,674 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Morgan Stanley dropped their target price on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Barclays lifted their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, UBS Group lifted their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $594.27.

Insider Activity

In related news, Director Kevin R. Johnson purchased 2,400 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $619.02 per share, for a total transaction of $1,485,648.00. Following the purchase, the director now owns 2,400 shares in the company, valued at $1,485,648. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the completion of the sale, the insider now owns 9,589 shares of the company’s stock, valued at $6,086,042.41. This represents a 43.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,925 shares of company stock worth $12,630,683. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $551.60 on Tuesday. The stock’s 50-day moving average is $612.14 and its 200-day moving average is $567.52. The company has a market cap of $172.12 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12 month low of $383.41 and a 12 month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.48 EPS. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

The Goldman Sachs Group Company 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.