Cornerstone Wealth Group LLC Lowers Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Cornerstone Wealth Group LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,113 shares of the investment management company’s stock after selling 115 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $5,218,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. West Branch Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the third quarter valued at $30,000. DT Investment Partners LLC boosted its stake in The Goldman Sachs Group by 110.0% in the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after buying an additional 33 shares during the last quarter. Truvestments Capital LLC purchased a new stake in The Goldman Sachs Group in the 3rd quarter valued at about $34,000. Country Trust Bank acquired a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at about $37,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of The Goldman Sachs Group during the 3rd quarter worth about $38,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 0.4 %

Shares of NYSE GS opened at $636.80 on Monday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a 1 year low of $374.24 and a 1 year high of $645.54. The stock’s 50-day simple moving average is $591.21 and its 200-day simple moving average is $536.11. The firm has a market cap of $199.90 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.88 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.48 EPS. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 46.81 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a dividend of $3.00 per share. The ex-dividend date is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 1.88%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at $72,015,903.53. The trade was a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,017 shares of company stock valued at $19,655,538 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. JMP Securities boosted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Oppenheimer cut their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $591.06.

About The Goldman Sachs Group

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.