Commerce Bank Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Commerce Bank lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,931 shares of the investment management company’s stock after selling 2,379 shares during the quarter. Commerce Bank’s holdings in The Goldman Sachs Group were worth $16,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $25,000. First United Bank & Trust purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $26,000. Versant Capital Management Inc grew its holdings in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of a number of research reports. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. HSBC boosted their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. BMO Capital Markets boosted their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Bank of America boosted their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, JMP Securities boosted their price target 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. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $450.62.

Insider Buying and Selling

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Viniar sold 5,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Stock Up 0.9 %

Shares of GS traded up $4.42 during mid-day trading on Wednesday, hitting $477.25. 800,488 shares of the company’s stock were exchanged, compared to its average volume of 2,280,688. The company has a market cap of $153.89 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 0.94 and a beta of 1.37. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $479.30. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s 50-day moving average is $455.83 and its 200-day moving average is $415.39.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.79 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 36.63 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were paid a dividend of $2.75 per share. The ex-dividend date was Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.30%. The Goldman Sachs Group’s payout ratio is 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.