Sawgrass Asset Management LLC Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Sawgrass Asset Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,652 shares of the investment management company’s stock after selling 679 shares during the period. Sawgrass Asset Management LLC’s holdings in The Goldman Sachs Group were worth $2,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. raised its position in shares of The Goldman Sachs Group by 10.9% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 16 shares during the period. Ledyard National Bank raised its position in shares of The Goldman Sachs Group by 3.4% during the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after purchasing an additional 16 shares during the period. Seelaus Asset Management LLC raised its position in shares of The Goldman Sachs Group by 2.5% during the 4th quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 16 shares during the period. Genesee Capital Advisors LLC raised its position in shares of The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. Finally, Horst & Graben Wealth Management LLC raised its position in shares of The Goldman Sachs Group by 1.5% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 1,179 shares of the investment management company’s stock valued at $675,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the transaction, the treasurer now owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock worth $19,692,543 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GS has been the topic of a number of research reports. Oppenheimer reduced their price target on shares of 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. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Barclays lifted their price objective on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $591.06.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $649.17 on Thursday. The Goldman Sachs Group, Inc. has a 1 year low of $375.20 and a 1 year high of $663.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $201.53 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39. The firm has a 50-day moving average of $601.88 and a two-hundred day moving average of $549.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.48 EPS. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 1.85%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

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.