Shorepath Capital Management LLC Has $11.02 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Shorepath Capital Management LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 26,389 shares of the investment management company’s stock after selling 179 shares during the period. The Goldman Sachs Group makes up 8.7% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Shorepath Capital Management LLC’s holdings in The Goldman Sachs Group were worth $11,022,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. First United Bank & Trust acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $26,000. Versant Capital Management Inc grew its stake in shares of The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the period. Pineridge Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Truvestments Capital LLC lifted its position in shares of The Goldman Sachs Group by 88.0% during the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after buying an additional 44 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $32,000. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. Bank of America increased their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup upped their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $450.00 to $504.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Finally, JMP Securities increased their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $440.57.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director David A. Viniar sold 5,000 shares of the business’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 document filed with the SEC, which is available at this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Down 0.1 %

Shares of NYSE GS traded down $0.67 during mid-day trading on Wednesday, hitting $456.71. The company had a trading volume of 880,800 shares, compared to its average volume of 2,273,562. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The firm has a 50-day simple moving average of $446.99 and a two-hundred day simple moving average of $409.11. The company has a market capitalization of $147.27 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $471.48.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $8.79 earnings per share. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 36.63 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.41%. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

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.