Oppenheimer Asset Management Inc. Sells 2,353 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Oppenheimer Asset Management Inc. reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,009 shares of the investment management company’s stock after selling 2,353 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $10,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GS. Curio Wealth LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $30,000. Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $31,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $31,000. Godsey & Gibb Inc. raised its position in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at about $34,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 1.0%

NYSE GS opened at $647.27 on Tuesday. The business has a 50 day simple moving average of $584.65 and a 200 day simple moving average of $584.63. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $672.19. The stock has a market capitalization of $198.61 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.87 and a beta of 1.32. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the firm posted $11.58 earnings per share. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 1.85%. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

Insider Buying and Selling

In other news, Director John B. Hess acquired 3,904 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 15th. The stock was purchased at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the purchase, the director now owns 3,904 shares of the company’s stock, valued at approximately $1,997,598.72. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on GS. Wells Fargo & Company dropped their target price on The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. JMP Securities dropped their target price on The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Daiwa Capital Markets downgraded The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Friday, April 4th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Finally, Barclays lowered their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $595.67.

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.