Cresset Asset Management LLC Has $13.34 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Cresset Asset Management LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 46.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,296 shares of the investment management company’s stock after selling 20,582 shares during the quarter. Cresset Asset Management LLC’s holdings in The Goldman Sachs Group were worth $13,339,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GS. Cetera Investment Advisers boosted its stake in The Goldman Sachs Group by 6.1% in the fourth quarter. Cetera Investment Advisers now owns 78,193 shares of the investment management company’s stock valued at $44,775,000 after acquiring an additional 4,500 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of The Goldman Sachs Group by 9.5% in the 4th quarter. Captrust Financial Advisors now owns 48,258 shares of the investment management company’s stock worth $27,633,000 after purchasing an additional 4,191 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth $9,960,000. Castlekeep Investment Advisors LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at about $944,334,000. Finally, Baird Financial Group Inc. lifted its stake in The Goldman Sachs Group by 5.6% in the fourth quarter. Baird Financial Group Inc. now owns 110,871 shares of the investment management company’s stock valued at $63,487,000 after buying an additional 5,877 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In other news, Director John B. Hess purchased 3,904 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the acquisition, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Down 1.8 %

Shares of GS stock opened at $549.48 on Wednesday. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $672.19. The stock has a market cap of $171.46 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.89 and a beta of 1.32. The firm’s 50-day moving average is $538.36 and its 200-day moving average is $575.48. 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 (NYSE:GS) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same period last year, the firm posted $11.58 earnings per share. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.18%. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GS. Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. UBS Group raised their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Daiwa America cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. JMP Securities reduced their target price on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Finally, Evercore ISI dropped their price target on The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $593.40.

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.