Convergence Investment Partners LLC Sells 165 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Convergence Investment Partners LLC trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,519 shares of the investment management company’s stock after selling 165 shares during the period. Convergence Investment Partners LLC’s holdings in The Goldman Sachs Group were worth $1,743,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Cambridge Trust Co. lifted its position in shares of The Goldman Sachs Group by 82.0% in the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after purchasing an additional 41 shares during the period. Truvestments Capital LLC increased its stake in 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 valued at $31,000 after purchasing an additional 44 shares in the last quarter. BKM Wealth Management LLC acquired a new position in The Goldman Sachs Group during the 4th quarter valued at approximately $32,000. Wetzel Investment Advisors Inc. acquired a new position in The Goldman Sachs Group during the 4th quarter valued at approximately $42,000. Finally, CNB Bank increased its stake in The Goldman Sachs Group by 55.7% during the 3rd quarter. CNB Bank now owns 165 shares of the investment management company’s stock valued at $53,000 after purchasing an additional 59 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on GS shares. Citigroup raised their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $410.00 to $430.00 in a report on Thursday, March 14th. HSBC increased their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Oppenheimer raised their price target on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Trading Up 1.8 %

Shares of GS traded up $7.52 during trading on Friday, reaching $427.57. 2,322,674 shares of the company traded hands, compared to its average volume of 2,404,007. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $428.53. The stock has a market cap of $138.76 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. The stock has a 50-day simple moving average of $400.27 and a 200-day simple moving average of $370.50. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.17% and a return on equity of 8.65%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.79 earnings per share. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 35.86 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be paid a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.57%. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the transaction, the treasurer now directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group 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.