Rheos Capital Works Inc. Decreases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Rheos Capital Works Inc. lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 96.7% during the first quarter, Holdings Channel reports. The institutional investor owned 8,500 shares of the investment management company’s stock after selling 246,500 shares during the quarter. Rheos Capital Works Inc.’s holdings in The Goldman Sachs Group were worth $4,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GS. Brighton Jones LLC boosted its position in The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after purchasing an additional 508 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $32,815,000. Revolve Wealth Partners LLC boosted its holdings in The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after buying an additional 58 shares during the period. Silver Oak Securities Incorporated bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $300,000. Finally, Consolidated Portfolio Review Corp bought a new stake in The Goldman Sachs Group during the 4th quarter valued at $221,000. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Citigroup reduced their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. JMP Securities lowered their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, Evercore ISI cut their target price on The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $593.40.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $614.49 on Monday. 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 business has a 50 day moving average of $555.71 and a 200 day moving average of $582.73. The company has a market cap of $188.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last released its quarterly 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 company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the previous year, the company posted $11.58 earnings per share. As a group, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.95%. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director John B. Hess bought 3,904 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director now owns 3,904 shares of the company’s stock, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.55% of the stock is owned by company insiders.

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.