Cary Street Partners Financial LLC Has $12.49 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Cary Street Partners Financial LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,680 shares of the investment management company’s stock after selling 1,048 shares during the quarter. Cary Street Partners Financial LLC’s holdings in The Goldman Sachs Group were worth $12,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. Harbor Capital Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the third quarter worth approximately $26,000. First PREMIER Bank bought a new position in The Goldman Sachs Group in the third quarter valued at approximately $28,000. Corundum Trust Company INC acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth $29,000. Elevation Wealth Partners LLC raised its position 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 valued at $32,000 after acquiring an additional 20 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $31,000. 71.21% of the stock is owned by institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director David A. Viniar sold 45,000 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $965.33, for a total value of $43,439,850.00. Following the completion of the transaction, the director owned 555,000 shares of the company’s stock, valued at approximately $535,758,150. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 9,589 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $927.51, for a total value of $8,893,893.39. Following the completion of the transaction, the insider owned 18,533 shares of the company’s stock, valued at $17,189,542.83. The trade was a 34.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 117,283 shares of company stock valued at $112,016,033 in the last three months. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $902.33 on Wednesday. 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, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70. The company’s 50 day moving average price is $922.91 and its two-hundred day moving average price is $834.04. The company has a market capitalization of $270.64 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its quarterly earnings data 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 company 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $11.95 earnings per share. On average, analysts expect 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 company 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. This represents a $18.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 31.20%.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. Zacks Research raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. BMO Capital Markets boosted their target price on The Goldman Sachs Group from $980.00 to $985.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $750.00 to $775.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Barclays lifted their price objective on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Rothschild & Co Redburn upped their target price on shares of The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $916.86.

Read Our Latest Stock Analysis on The Goldman Sachs Group

Key The Goldman Sachs Group News

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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

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

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