SteelPeak Wealth LLC Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

SteelPeak Wealth LLC lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 22.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,080 shares of the investment management company’s stock after selling 5,961 shares during the quarter. SteelPeak Wealth LLC’s holdings in The Goldman Sachs Group were worth $8,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GS. Breakwater Capital Group lifted its holdings in shares of The Goldman Sachs Group by 13.2% during the 1st quarter. Breakwater Capital Group now owns 869 shares of the investment management company’s stock valued at $363,000 after acquiring an additional 101 shares in the last quarter. Optas LLC boosted its position in shares of The Goldman Sachs Group by 2.4% in the first quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock worth $448,000 after buying an additional 25 shares during the period. Sandy Cove Advisors LLC grew its stake in shares of The Goldman Sachs Group by 8.6% in the first quarter. Sandy Cove Advisors LLC now owns 759 shares of the investment management company’s stock valued at $317,000 after buying an additional 60 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock valued at $944,000 after buying an additional 25 shares during the period. Finally, Trilogy Capital Inc. acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $2,991,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GS shares. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. BMO Capital Markets lifted their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. JMP Securities upped their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Evercore ISI lifted their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, HSBC increased their price target on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $443.78.

Insider Buying and Selling

In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the sale, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the transaction, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS traded up $6.36 during midday trading on Friday, reaching $452.32. 3,839,657 shares of the company traded hands, compared to its average volume of 1,900,364. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $471.48. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74. The company has a fifty day moving average price of $449.86 and a 200 day moving average price of $411.13. The firm has a market capitalization of $145.86 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.79 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 36.59 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th were given a dividend of $2.75 per share. The ex-dividend date was Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.43%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

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.