Desjardins Global Asset Management Inc. Decreases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Desjardins Global Asset Management Inc. lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 24.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,387 shares of the investment management company’s stock after selling 770 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $921,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Trust Co. boosted its holdings in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of The Goldman Sachs Group by 88.0% in the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after purchasing an additional 44 shares during the period. BKM Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $32,000. Pacific Center for Financial Services purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $33,000. Finally, Worth Asset Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $33,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on GS shares. Citigroup lifted their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a report on Tuesday. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research report on Tuesday. Bank of America upped their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, UBS Group raised their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $434.93.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at approximately $4,357,659.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock worth $13,950,851 in the last ninety days. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $403.91 on Thursday. The company has a market cap of $131.08 billion, a P/E ratio of 15.77, a PEG ratio of 1.54 and a beta of 1.43. The business has a 50 day moving average of $395.67 and a two-hundred day moving average of $365.35. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 8.65% and a net margin of 8.17%. The business had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the previous year, the firm posted $8.79 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 32.76 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

The Goldman Sachs Group Company Profile

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.