Corrado Advisors LLC Sells 765 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Corrado Advisors LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 19.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,122 shares of the investment management company’s stock after selling 765 shares during the quarter. Corrado Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its holdings in The Goldman Sachs Group by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock worth $129,144,000 after purchasing an additional 5,541 shares in the last quarter. Franklin Street Advisors Inc. NC raised its holdings in The Goldman Sachs Group by 8.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock worth $21,934,000 after purchasing an additional 2,863 shares in the last quarter. Park Edge Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth $703,000. Atlas Legacy Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth $356,000. Finally, Nordea Investment Management AB raised its holdings in The Goldman Sachs Group by 30.3% in the 4th quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock worth $122,453,000 after purchasing an additional 49,710 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total value 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 represents a 23.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alex S. Golten sold 5,208 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $19,692,543 in the last 90 days. 0.57% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $618.04 on Thursday. The firm’s 50-day moving average price is $614.54 and its 200-day moving average price is $561.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market cap of $192.85 billion, a PE ratio of 15.24, a PEG ratio of 0.89 and a beta of 1.39. The Goldman Sachs Group, Inc. has a 52-week low of $381.42 and a 52-week high of $672.19.

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

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s payout ratio is presently 29.59%.

Wall Street Analysts Forecast Growth

GS has been the subject of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. HSBC downgraded 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. Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $680.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Barclays upped their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $593.56.

The Goldman Sachs Group 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.