Douglas Lane & Associates LLC Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Douglas Lane & Associates LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,276 shares of the investment management company’s stock after selling 90 shares during the quarter. Douglas Lane & Associates LLC’s holdings in The Goldman Sachs Group were worth $731,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GS. Procyon Advisors LLC increased its stake in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares during the last quarter. Brookstone Capital Management grew its holdings in The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after buying an additional 761 shares during the period. Granite Bay Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at about $5,529,000. Principal Financial Group Inc. lifted its holdings in shares of The Goldman Sachs Group by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 364,276 shares of the investment management company’s stock worth $180,357,000 after acquiring an additional 7,644 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after acquiring an additional 161,133 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GS. Citigroup upped their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. JMP Securities boosted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. UBS Group restated a “neutral” rating and issued a $610.00 price objective on shares of The Goldman Sachs Group in a report on Monday. Finally, Evercore ISI boosted their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus target price of $569.31.

Insider Transactions at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at approximately $72,015,903.53. The trade was a 5.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $579.48 on Thursday. The Goldman Sachs Group, Inc. has a 12-month low of $372.07 and a 12-month high of $612.73. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $181.90 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The firm’s fifty day moving average price is $581.68 and its 200 day moving average price is $523.88.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.47 earnings per share. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.06 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 2nd were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

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.