The Goldman Sachs Group, Inc. (NYSE:GS) Stake Reduced by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,113 shares of the investment management company’s stock after selling 115 shares during the period. Cornerstone Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $5,218,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GS. Susquehanna Fundamental Investments LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $1,040,000. Kathmere Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 6.2% in the second quarter. Kathmere Capital Management LLC now owns 1,174 shares of the investment management company’s stock worth $531,000 after purchasing an additional 69 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 9.6% during the second quarter. SkyView Investment Advisors LLC now owns 3,267 shares of the investment management company’s stock valued at $1,478,000 after purchasing an additional 287 shares during the period. Ascent Group LLC raised its stake in shares of The Goldman Sachs Group by 34.0% during the second quarter. Ascent Group LLC now owns 1,477 shares of the investment management company’s stock valued at $668,000 after purchasing an additional 375 shares in the last quarter. Finally, Creative Planning lifted its holdings in The Goldman Sachs Group by 6.7% in the second quarter. Creative Planning now owns 74,446 shares of the investment management company’s stock worth $33,674,000 after purchasing an additional 4,661 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GS has been the topic of several research analyst reports. JMP Securities raised their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley lifted their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $569.00 to $608.00 in a research note on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $591.06.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,550 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at $72,015,903.53. This represents a 5.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the transaction, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,017 shares of company stock valued at $19,655,538. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $636.80 on Monday. The Goldman Sachs Group, Inc. has a one year low of $374.24 and a one year high of $645.54. The company has a 50-day moving average of $591.21 and a two-hundred day moving average of $536.11. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $199.90 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.88 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS 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 firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter last year, the business posted $5.48 EPS. The company’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 46.81 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.88%. The Goldman Sachs Group’s dividend payout ratio is 29.59%.

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.