Signet Financial Management LLC Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Signet Financial Management LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 22.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,401 shares of the investment management company’s stock after selling 974 shares during the period. Signet Financial Management LLC’s holdings in The Goldman Sachs Group were worth $1,420,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GS. Migdal Insurance & Financial Holdings Ltd. raised its holdings in The Goldman Sachs Group by 13.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after acquiring an additional 20,018 shares during the last quarter. HTLF Bank bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $850,000. Apexium Financial LP lifted its holdings in shares of The Goldman Sachs Group by 7.1% during the 4th quarter. Apexium Financial LP now owns 5,672 shares of the investment management company’s stock valued at $2,188,000 after buying an additional 378 shares during the period. Wealth Alliance lifted its holdings in shares of The Goldman Sachs Group by 17.3% during the 4th quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock valued at $399,000 after buying an additional 153 shares during the period. Finally, Trueblood Wealth Management LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $989,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 2.2 %

Shares of The Goldman Sachs Group stock opened at $445.91 on Friday. The firm has a market cap of $143.79 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.92 and a beta of 1.39. The business has a 50-day moving average price of $448.04 and a 200-day moving average price of $409.43. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $471.48.

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

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th were paid a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, 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 value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’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 value of $25,360,000.00. Following the completion of the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was 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 directly 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. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on GS shares. JMP Securities raised their target price on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $443.78.

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.