Hollencrest Capital Management Lowers Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Hollencrest Capital Management reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 22.7% during the 4th quarter, HoldingsChannel reports. The fund owned 631 shares of the investment management company’s stock after selling 185 shares during the period. Hollencrest Capital Management’s holdings in The Goldman Sachs Group were worth $361,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its stake in The Goldman Sachs Group by 10.9% in the fourth 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 increased its stake in shares of The Goldman Sachs Group by 3.4% during the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock worth $278,000 after acquiring an additional 16 shares during the period. Seelaus Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 2.5% during the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock worth $378,000 after acquiring an additional 16 shares during the period. Pointe Capital Management LLC increased its stake in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after acquiring an additional 16 shares during the period. Finally, Genesee Capital Advisors LLC increased its stake in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after acquiring an additional 17 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 1,545 shares of the firm’s stock in a transaction 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 completion of the sale, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the transaction, the chief accounting officer now owns 6,455 shares in the company, valued at $4,047,349.55. This trade represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,925 shares of company stock valued at $12,630,683. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $535.61 on Thursday. The Goldman Sachs Group, Inc. has a one year low of $383.41 and a one year high of $672.19. 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 company has a 50 day moving average price of $614.56 and a 200 day moving average price of $566.43. The firm has a market capitalization of $167.13 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last released 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 Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the prior year, the business earned $5.48 earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s payout ratio is currently 29.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GS. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup boosted their price target 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. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Oppenheimer lowered their target price on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.69.

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.