Pallas Capital Advisors LLC Trims Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Pallas Capital Advisors LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,472 shares of the investment management company’s stock after selling 126 shares during the quarter. Pallas Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $804,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after buying an additional 3,970,467 shares during the period. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $1,603,315,000. Castlekeep Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $944,334,000. Raymond James Financial Inc. purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $624,844,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of The Goldman Sachs Group by 14,007.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock worth $606,815,000 after acquiring an additional 1,052,204 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Daiwa America cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. JPMorgan Chase & Co. reduced their target price on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Barclays reduced their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Citigroup reduced their target price 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, Evercore ISI cut their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $593.40.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $615.00 on Wednesday. The business’s fifty day simple moving average is $558.78 and its two-hundred day simple moving average is $583.03. 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 Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $672.19. The company has a market cap of $188.71 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 0.89 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion for 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. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced 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 of this dividend is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

Insider Buying and Selling

In other news, Director John B. Hess purchased 3,904 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.