Corundum Group Inc. Trims Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Corundum Group Inc. trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 54.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,163 shares of the investment management company’s stock after selling 1,400 shares during the quarter. Corundum Group Inc.’s holdings in The Goldman Sachs Group were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG boosted its position in The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company’s stock valued at $594,412,000 after purchasing an additional 138,198 shares in the last quarter. Baxter Bros Inc. boosted its holdings in shares of The Goldman Sachs Group by 1.0% in the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company’s stock valued at $8,879,000 after buying an additional 151 shares in the last quarter. Erste Asset Management GmbH grew its position in shares of The Goldman Sachs Group by 5.9% in the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock worth $3,309,000 after buying an additional 320 shares during the last quarter. Fidelis Capital Partners LLC grew its position in shares of The Goldman Sachs Group by 65.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 7,418 shares of the investment management company’s stock worth $4,691,000 after buying an additional 2,942 shares during the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in shares of The Goldman Sachs Group by 7.2% during the 4th quarter. Berkshire Asset Management LLC PA now owns 1,164 shares of the investment management company’s stock worth $667,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GS. Wall Street Zen downgraded shares of The Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Citigroup lowered their price objective on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. reduced their target price on 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. Royal Bank Of Canada lowered their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating for the company in a report on Tuesday, April 15th. Finally, Daiwa America cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. One investment 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. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $595.67.

Insider Transactions at The Goldman Sachs Group

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

The Goldman Sachs Group Trading Up 2.3%

Shares of The Goldman Sachs Group stock opened at $661.73 on Wednesday. The firm has a 50-day simple moving average of $587.73 and a two-hundred day simple moving average of $585.16. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $672.19. The company has a market cap of $203.05 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 0.88 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same quarter in the prior year, the business posted $11.58 earnings per share. As a group, equities analysts predict 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. Stockholders of record on Friday, May 30th will be given a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.81%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.85%.

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.