Short Interest in The Goldman Sachs Group, Inc. (NYSE:GS) Declines By 18.4%

The Goldman Sachs Group, Inc. (NYSE:GS) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,950,000 shares, a drop of 18.4% from the February 28th total of 4,840,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 2,650,000 shares, the days-to-cover ratio is presently 1.5 days.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $15.79 during mid-day trading on Wednesday, reaching $564.24. The company’s stock had a trading volume of 2,542,259 shares, compared to its average volume of 2,282,495. The firm’s 50-day moving average is $603.45 and its two-hundred day moving average is $573.30. The company has a market cap of $176.06 billion, a P/E ratio of 13.91, a PEG ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a 1-year low of $387.12 and a 1-year 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 Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.48 earnings per share. On average, research analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insider Buying and Selling

In other news, Director Kevin R. Johnson purchased 2,400 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the purchase, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total value of $1,275,338.34. Following the completion of the sale, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Consulting LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $29,000. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $30,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group in the fourth quarter worth $31,000. 71.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

GS has been the subject of several recent research reports. Citigroup decreased their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Wells Fargo & Company cut their target price on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Morgan Stanley reduced their price objective on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. Finally, UBS Group boosted their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $591.87.

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.