Cullinan Associates Inc. Trims Position in The Goldman Sachs Group, Inc. $GS

Cullinan Associates Inc. trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 37.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,782 shares of the investment management company’s stock after selling 4,743 shares during the period. Cullinan Associates Inc.’s holdings in The Goldman Sachs Group were worth $6,584,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Sivia Capital Partners LLC grew its position in The Goldman Sachs Group by 90.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock worth $1,098,000 after purchasing an additional 735 shares during the period. Schnieders Capital Management LLC. grew its position in The Goldman Sachs Group by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock worth $581,000 after purchasing an additional 70 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in shares of The Goldman Sachs Group by 22.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock valued at $1,522,000 after buying an additional 391 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Sheara J. Fredman sold 10,301 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer owned 6,338 shares in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 33,681 shares of company stock worth $31,737,875. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GS. Jefferies Financial Group decreased their price objective on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a report on Monday, April 6th. Daiwa Securities Group lifted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. UBS Group boosted their price target on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. BNP Paribas Exane lowered their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Finally, HSBC raised their price objective on shares of The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $986.91.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $0.07 during trading on Friday, reaching $1,056.04. 1,110,031 shares of the company’s stock traded hands, compared to its average volume of 1,972,365. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a fifty-two week low of $691.30 and a fifty-two week high of $1,125.00. The company has a 50-day simple moving average of $1,017.99 and a 200-day simple moving average of $938.64. The firm has a market cap of $311.54 billion, a PE ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The Goldman Sachs Group’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $14.12 EPS. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 1st were paid a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is presently 32.89%.

The Goldman Sachs Group Profile

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.