Core Alternative Capital Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Core Alternative Capital decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 18.7% during the first quarter, HoldingsChannel reports. The fund owned 122 shares of the investment management company’s stock after selling 28 shares during the quarter. Core Alternative Capital’s holdings in The Goldman Sachs Group were worth $67,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GS. Deutsche Bank AG raised its position in The Goldman Sachs Group by 15.4% in the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company’s stock worth $594,412,000 after purchasing an additional 138,198 shares during the period. Baxter Bros Inc. grew its stake in shares of The Goldman Sachs Group by 1.0% during the fourth 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 during the last quarter. Erste Asset Management GmbH raised its holdings in shares of The Goldman Sachs Group by 5.9% in the fourth 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 period. Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $1,643,000. Finally, Adams Diversified Equity Fund Inc. boosted its holdings in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock valued at $27,205,000 after acquiring an additional 14,600 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $725.05 on Friday. The firm has a market cap of $222.47 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.99 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $726.00. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The company’s 50 day moving average is $617.08 and its 200 day moving average is $591.89.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.57 by $1.55. The business 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 period last year, the business posted $11.58 EPS. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group’s payout ratio is currently 27.85%.

Insider Transactions at The Goldman Sachs Group

In other news, Director John B. Hess purchased 3,904 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director owned 3,904 shares in the company, valued at $1,997,598.72. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GS shares. 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. Daiwa America downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Barclays decreased their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Royal Bank Of Canada dropped their target price on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 15th. Finally, 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. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $603.73.

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.