The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 4.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,602 shares of the investment management company’s stock after selling 281 shares during the period. Mechanics Bank Trust Department’s holdings in The Goldman Sachs Group were worth $2,340,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in The Goldman Sachs Group in the third quarter valued at approximately $187,000. LPL Financial LLC grew its stake in The Goldman Sachs Group by 4.5% in the 3rd quarter. LPL Financial LLC now owns 207,885 shares of the investment management company’s stock valued at $67,266,000 after acquiring an additional 8,879 shares during the period. Federated Hermes Inc. increased its holdings in The Goldman Sachs Group by 467.2% in the 3rd quarter. Federated Hermes Inc. now owns 106,420 shares of the investment management company’s stock worth $34,434,000 after acquiring an additional 87,657 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in The Goldman Sachs Group by 14.3% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,834 shares of the investment management company’s stock worth $1,241,000 after acquiring an additional 480 shares during the period. Finally, Certified Advisory Corp lifted its holdings in The Goldman Sachs Group by 7.0% during the third quarter. Certified Advisory Corp now owns 793 shares of the investment management company’s stock valued at $257,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GS shares. Royal Bank of Canada upped their price target on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 16th. Citigroup increased their target price on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $450.00 to $504.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Finally, Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $440.57.

View Our Latest Stock Report on GS

Insider Transactions at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the sale, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Trading Down 0.9 %

Shares of GS traded down $4.17 during trading on Tuesday, reaching $457.92. 716,360 shares of the company traded hands, compared to its average volume of 2,277,493. The stock has a 50-day simple moving average of $445.78 and a 200-day simple moving average of $408.36. The stock has a market cap of $147.66 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $471.48. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The company had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the previous year, the company earned $8.79 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 36.63 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

The Goldman Sachs Group Profile

(Free Report)

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.

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

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