Earnest Partners LLC Has $8.08 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Earnest Partners LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 48.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,332 shares of the investment management company’s stock after selling 18,102 shares during the quarter. Earnest Partners LLC’s holdings in The Goldman Sachs Group were worth $8,075,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 4.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,435 shares of the investment management company’s stock worth $553,000 after purchasing an additional 60 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in The Goldman Sachs Group by 17.2% during the fourth quarter. Global Retirement Partners LLC now owns 5,129 shares of the investment management company’s stock worth $1,951,000 after buying an additional 753 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in The Goldman Sachs Group by 158.6% during the fourth quarter. Hennessy Advisors Inc. now owns 9,050 shares of the investment management company’s stock worth $3,491,000 after buying an additional 5,550 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in The Goldman Sachs Group by 2.9% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,462 shares of the investment management company’s stock worth $564,000 after buying an additional 41 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in The Goldman Sachs Group by 527.3% during the fourth quarter. Activest Wealth Management now owns 138 shares of the investment management company’s stock worth $53,000 after buying an additional 116 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

GS traded down $6.31 on Monday, reaching $492.72. The stock had a trading volume of 1,477,630 shares, compared to its average volume of 2,308,730. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $509.48. The firm has a 50-day moving average of $466.04 and a 200-day moving average of $425.00. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $158.88 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.01 and a beta of 1.37.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, August 30th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,013,500 shares of company stock worth $32,181,365. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research analyst reports. JMP Securities raised their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Bank of America raised their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average price target of $484.59.

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.