State of Tennessee Department of Treasury Sells 16,948 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

State of Tennessee Department of Treasury decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,744 shares of the investment management company’s stock after selling 16,948 shares during the quarter. State of Tennessee Department of Treasury’s holdings in The Goldman Sachs Group were worth $71,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in The Goldman Sachs Group by 2.5% during 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 acquiring an additional 5,541 shares during the last quarter. Baxter Bros Inc. lifted its position in shares of The Goldman Sachs Group by 1.0% during the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company’s stock worth $8,879,000 after purchasing an additional 151 shares during the last quarter. Erste Asset Management GmbH boosted its stake in The Goldman Sachs Group by 5.9% during the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock valued at $3,309,000 after purchasing an additional 320 shares during the period. Franklin Street Advisors Inc. NC grew 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 valued at $21,934,000 after buying an additional 2,863 shares during the last quarter. Finally, Atlas Legacy Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $356,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GS shares. Royal Bank of Canada reduced their price objective on The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 15th. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Barclays dropped their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Finally, UBS Group boosted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $593.40.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 $5,117,296.64. The trade was a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Up 2.2 %

Shares of NYSE:GS opened at $509.83 on Monday. The company has a market capitalization of $159.09 billion, a PE ratio of 12.57, a P/E/G ratio of 0.89 and a beta of 1.33. 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’s fifty day moving average is $561.96 and its 200-day moving average is $573.40. The Goldman Sachs Group, Inc. has a 52 week low of $404.57 and a 52 week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the prior year, the firm earned $11.58 earnings per share. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. The Goldman Sachs Group’s dividend payout ratio is 27.85%.

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.