New York Life Investment Management LLC Sells 627 Shares of The Goldman Sachs Group, Inc. $GS

New York Life Investment Management LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,104 shares of the investment management company’s stock after selling 627 shares during the quarter. New York Life Investment Management LLC’s holdings in The Goldman Sachs Group were worth $32,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gilliland Jeter Wealth Management LLC grew its stake in The Goldman Sachs Group by 3.5% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 388 shares of the investment management company’s stock valued at $309,000 after purchasing an additional 13 shares during the period. EWA LLC grew its position in The Goldman Sachs Group by 2.2% during the third quarter. EWA LLC now owns 612 shares of the investment management company’s stock valued at $488,000 after buying an additional 13 shares during the period. Carrera Capital Advisors increased its holdings in The Goldman Sachs Group by 3.5% during the third quarter. Carrera Capital Advisors now owns 385 shares of the investment management company’s stock worth $306,000 after buying an additional 13 shares during the last quarter. KPP Advisory Services LLC raised its position in The Goldman Sachs Group by 2.1% in the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock worth $473,000 after acquiring an additional 14 shares during the period. Finally, Avion Wealth boosted its stake in The Goldman Sachs Group by 31.1% in the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

Insider Transactions at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 4,863 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $923.75, for a total value of $4,492,196.25. Following the completion of the sale, the chief accounting officer directly owned 10,301 shares in the company, valued at approximately $9,515,548.75. The trade was a 32.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Viniar sold 19,796 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $964.27, for a total transaction of $19,088,688.92. Following the completion of the sale, the director directly owned 103,390 shares of the company’s stock, valued at $99,695,875.30. This trade represents a 16.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 87,513 shares of company stock worth $83,718,401. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

GS stock opened at $929.47 on Monday. The firm has a 50 day moving average of $909.26 and a 200-day moving average of $817.45. The firm has a market capitalization of $278.77 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.14 and a beta of 1.34. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $984.70. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.29.

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

The Goldman Sachs Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GS. Zacks Research upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $970.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Dbs Bank upped their price target on The Goldman Sachs Group from $800.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Argus increased their price target on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Jefferies Financial Group lifted their price objective on The Goldman Sachs Group from $898.00 to $1,087.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $916.86.

Check Out Our Latest Analysis on GS

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.

Further Reading

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

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