Signet Financial Management LLC Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Signet Financial Management LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,375 shares of the investment management company’s stock after selling 389 shares during the quarter. Signet Financial Management LLC’s holdings in The Goldman Sachs Group were worth $1,688,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $759,531,000. Morgan Stanley grew its stake in The Goldman Sachs Group by 40.0% during the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after buying an additional 1,696,350 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in The Goldman Sachs Group by 168,772.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock worth $427,367,000 after buying an additional 1,243,852 shares during the last quarter. Congress Wealth Management LLC DE grew its stake in The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after buying an additional 650,918 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in The Goldman Sachs Group by 1,791.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 515,358 shares of the investment management company’s stock worth $168,579,000 after buying an additional 488,109 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $396.51 on Wednesday. The stock has a fifty day moving average price of $395.32 and a 200 day moving average price of $365.08. The stock has a market cap of $128.68 billion, a PE ratio of 15.48, a P/E/G ratio of 1.56 and a beta of 1.43. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $419.20. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The Goldman Sachs Group’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $8.79 earnings per share. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 32.76 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $2.75 per share. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.77%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Analysts Set New Price Targets

A number of research firms have weighed in on GS. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research report on Tuesday. Evercore ISI increased their price objective on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research report on Tuesday. Finally, UBS Group increased their price objective on The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $434.93.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the transaction, the insider now directly owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,907 shares of company stock valued at $13,950,851. 0.57% of the stock is owned by insiders.

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.