Cibc World Market Inc. Sells 38,280 Shares of The Goldman Sachs Group, Inc. $GS

Cibc World Market Inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 25.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,819 shares of the investment management company’s stock after selling 38,280 shares during the quarter. Cibc World Market Inc.’s holdings in The Goldman Sachs Group were worth $88,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the third quarter valued at about $26,000. First PREMIER Bank bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $28,000. Corundum Trust Company INC bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $29,000. Elevation Wealth Partners LLC grew its holdings in shares of The Goldman Sachs Group by 100.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after purchasing an additional 20 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $31,000. Institutional investors own 71.21% of the company’s stock.

Trending Headlines about The Goldman Sachs Group

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The Goldman Sachs Group Stock Up 0.5%

Shares of GS opened at $948.40 on Wednesday. The business’s fifty day moving average price is $914.60 and its two-hundred day moving average price is $820.58. The firm has a market capitalization of $284.45 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.16 and a beta of 1.34. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.65 and a current ratio of 1.13.

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

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The ex-dividend date of this dividend is Monday, March 2nd. The Goldman Sachs Group’s payout ratio is presently 31.20%.

Wall Street Analyst Weigh In

GS has been the subject of several research reports. Daiwa Securities Group raised their target price on The Goldman Sachs Group from $927.00 to $940.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Argus raised their price objective on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a report on Friday, January 16th. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $980.00 to $985.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their target price on shares of The Goldman Sachs Group from $900.00 to $1,030.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 20th. Finally, Bank of America raised their price target on shares of The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $916.86.

Get Our Latest Stock Analysis on The Goldman Sachs Group

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 272 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $938.92, for a total value of $255,386.24. Following the transaction, the chief executive officer directly owned 125,527 shares of the company’s stock, valued at approximately $117,859,810.84. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 4,863 shares of The Goldman Sachs Group 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 sale, the chief accounting officer directly owned 10,301 shares of the company’s stock, valued at $9,515,548.75. This represents a 32.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,513 shares of company stock valued at $83,718,401 over the last three months. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Company 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.

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

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