Hobbs Group Advisors LLC Trims Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Hobbs Group Advisors LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,407 shares of the investment management company’s stock after selling 48 shares during the period. Hobbs Group Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,378,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in The Goldman Sachs Group by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock valued at $3,524,669,000 after purchasing an additional 112,696 shares during the period. Norges Bank acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $1,603,315,000. Charles Schwab Investment Management Inc. boosted its stake in shares of The Goldman Sachs Group by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,936,853 shares of the investment management company’s stock valued at $1,109,081,000 after buying an additional 22,794 shares during the period. Franklin Resources Inc. increased its stake in shares of The Goldman Sachs Group by 3.9% during the third quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock worth $898,428,000 after buying an additional 62,246 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $624,844,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GS shares. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. Oppenheimer lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. Citigroup decreased their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Morgan Stanley dropped their price objective on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group boosted their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $590.60.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. The trade was a 23.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the sale, the insider now owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,925 shares of company stock worth $12,630,683. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $543.04 on Friday. The business has a 50 day simple moving average of $608.15 and a 200-day simple moving average of $570.93. The Goldman Sachs Group, Inc. has a twelve month low of $387.12 and a twelve month high of $672.19. The company has a market capitalization of $169.45 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.48 earnings per share. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is presently 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.