New York Life Investment Management LLC Sells 627 Shares of The Goldman Sachs Group, Inc. $GS

New York Life Investment Management LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 41,104 shares of the investment management company’s stock after selling 627 shares during the period. New York Life Investment Management LLC’s holdings in The Goldman Sachs Group were worth $32,733,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GS. Hartline Investment Corp increased its stake in The Goldman Sachs Group by 153.3% during the third quarter. Hartline Investment Corp now owns 1,421 shares of the investment management company’s stock valued at $1,132,000 after acquiring an additional 860 shares during the period. A4 Wealth Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $940,000. Meridian Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 39.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,332 shares of the investment management company’s stock worth $1,857,000 after purchasing an additional 659 shares in the last quarter. National Pension Service increased its position in shares of The Goldman Sachs Group by 3.1% during the third quarter. National Pension Service now owns 665,794 shares of the investment management company’s stock valued at $530,205,000 after purchasing an additional 19,796 shares during the period. Finally, Chung Wu Investment Group LLC raised its stake in shares of The Goldman Sachs Group by 114.4% in the third quarter. Chung Wu Investment Group LLC now owns 2,080 shares of the investment management company’s stock valued at $1,656,000 after purchasing an additional 1,110 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $929.47 on Monday. The stock has a market cap of $278.77 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.14 and a beta of 1.34. The stock has a 50-day moving average of $909.26 and a 200-day moving average of $817.45. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $984.70.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $2.03. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.19%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the previous year, the company earned $11.95 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 2nd will be given a $4.50 dividend. The ex-dividend date is Monday, March 2nd. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s dividend payout ratio is currently 35.09%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 9,589 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the sale, the insider owned 18,533 shares of the company’s stock, valued at $17,189,542.83. This trade represents a 34.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David M. Solomon sold 272 shares of The Goldman Sachs Group stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $938.92, for a total value of $255,386.24. Following the transaction, the chief executive officer owned 125,527 shares in the company, valued at $117,859,810.84. This trade represents a 0.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 87,513 shares of company stock worth $83,718,401 in the last three months. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GS shares. HSBC increased their target price on The Goldman Sachs Group from $742.00 to $802.00 in a report on Friday. Dbs Bank increased their price target on The Goldman Sachs Group from $800.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. BNP Paribas Exane lifted their price objective on The Goldman Sachs Group from $775.00 to $970.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $971.00 to $1,000.00 and gave the company a “market perform” rating in a research report on Friday, January 16th. Finally, Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $916.86.

Read Our Latest Report on GS

The Goldman Sachs Group Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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