The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,068 shares of the investment management company’s stock after selling 194 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in The Goldman Sachs Group were worth $10,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GS. Jackson Grant Investment Advisers Inc. lifted its stake in The Goldman Sachs Group by 10.9% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after buying an additional 16 shares during the last quarter. Ledyard National Bank increased its holdings in shares of The Goldman Sachs Group by 3.4% in the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after acquiring an additional 16 shares during the period. Seelaus Asset Management LLC raised its position in The Goldman Sachs Group by 2.5% in the 4th quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 16 shares during the last quarter. Pointe Capital Management LLC raised its position in The Goldman Sachs Group by 1.0% in the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock valued at $951,000 after purchasing an additional 16 shares during the last quarter. Finally, Genesee Capital Advisors LLC boosted its stake in The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total value of $1,275,338.34. Following the completion of the transaction, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. The trade was a 23.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now directly owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 in the last ninety days. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $469.57 on Monday. The stock has a fifty day moving average price of $597.54 and a 200 day moving average price of $573.99. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $146.52 billion, a PE ratio of 11.58, a P/E/G ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group, Inc. has a 1 year low of $387.12 and a 1 year high of $672.19.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results 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 Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the previous year, the company posted $5.48 EPS. The business’s revenue was up 22.5% on a year-over-year basis. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.56%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GS. Morgan Stanley reduced their target price on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Oppenheimer cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Barclays boosted their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. Finally, Evercore ISI dropped their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $589.19.

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.