CIBC Private Wealth Group LLC Reduces Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

CIBC Private Wealth Group LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,726 shares of the investment management company’s stock after selling 1,203 shares during the period. CIBC Private Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $77,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fisher Asset Management LLC raised its holdings in shares of The Goldman Sachs Group by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock valued at $3,524,669,000 after acquiring an additional 112,696 shares in the last quarter. Norges Bank purchased a new position in The Goldman Sachs Group during the 4th quarter valued at $1,603,315,000. Charles Schwab Investment Management Inc. increased its position in The Goldman Sachs Group by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,936,853 shares of the investment management company’s stock valued at $1,109,081,000 after purchasing an additional 22,794 shares during the period. Franklin Resources Inc. raised its holdings in The Goldman Sachs Group by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock worth $898,428,000 after purchasing an additional 62,246 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $624,844,000. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

GS has been the subject of a number of research reports. Citigroup decreased their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company decreased their target price on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. Finally, Barclays boosted their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average target price of $590.60.

Insider Activity at The Goldman Sachs Group

In related news, Director Kevin R. Johnson acquired 2,400 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the transaction, the director now directly owns 2,400 shares in the company, valued at approximately $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total transaction of $4,758,905.62. Following the completion of the sale, the insider now owns 9,589 shares in the company, valued at $6,086,042.41. This represents a 43.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock valued at $12,630,683 over the last ninety days. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Down 2.8 %

Shares of The Goldman Sachs Group stock opened at $543.04 on Monday. The company has a 50-day simple moving average of $608.15 and a two-hundred day simple moving average of $572.36. The Goldman Sachs Group, Inc. has a 52-week low of $387.12 and a 52-week high of $672.19. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $169.45 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same period in the previous year, the business earned $5.48 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 28th. The Goldman Sachs Group’s payout ratio is currently 29.59%.

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.