Pines Wealth Management LLC Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Pines Wealth Management LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,454 shares of the investment management company’s stock after selling 271 shares during the period. Pines Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $1,341,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ledyard National Bank boosted its stake in 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 acquiring an additional 16 shares during the last quarter. Seelaus Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.5% in 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 in the last quarter. Pointe Capital Management LLC lifted its position 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 purchasing an additional 16 shares during the last quarter. Blackston Financial Advisory Group LLC grew its stake in The Goldman Sachs Group by 2.1% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 831 shares of the investment management company’s stock worth $476,000 after purchasing an additional 17 shares in the last quarter. Finally, Morris Financial Concepts Inc. increased its holdings in The Goldman Sachs Group by 3.5% in the fourth quarter. Morris Financial Concepts Inc. now owns 536 shares of the investment management company’s stock valued at $307,000 after buying an additional 18 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

GS opened at $614.49 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The business’s 50 day moving average is $555.71 and its 200-day moving average is $582.82. The stock has a market cap of $188.55 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the previous year, the business earned $11.58 EPS. On average, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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. Investors of record on Friday, May 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group’s payout ratio is currently 27.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on GS shares. Royal Bank of Canada decreased their target price 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. Evercore ISI decreased their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company lowered their target price on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Citigroup reduced their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Morgan Stanley set a $558.00 price objective on shares of The Goldman Sachs Group and gave the company an “equal weight” rating in a research report on Monday, April 7th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $593.40.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess bought 3,904 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director now directly owns 3,904 shares of the company’s stock, 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 available through this hyperlink. 0.55% of the stock is currently owned by insiders.

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.