Opinicus Capital Inc. Decreases Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Opinicus Capital Inc. trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,525 shares of the investment management company’s stock after selling 49 shares during the period. Opinicus Capital Inc.’s holdings in The Goldman Sachs Group were worth $637,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GS. Synovus Financial Corp increased its position in The Goldman Sachs Group by 1.9% during the 3rd quarter. Synovus Financial Corp now owns 13,592 shares of the investment management company’s stock valued at $4,400,000 after purchasing an additional 254 shares during the period. Bank of Nova Scotia increased its position in The Goldman Sachs Group by 45.3% during the 3rd quarter. Bank of Nova Scotia now owns 129,161 shares of the investment management company’s stock valued at $41,795,000 after purchasing an additional 40,259 shares during the period. Morningstar Investment Services LLC purchased a new position in The Goldman Sachs Group during the 3rd quarter valued at $350,000. MBB Public Markets I LLC increased its position in The Goldman Sachs Group by 5.2% during the 3rd quarter. MBB Public Markets I LLC now owns 78,887 shares of the investment management company’s stock valued at $25,525,000 after purchasing an additional 3,887 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in The Goldman Sachs Group by 1.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,865 shares of the investment management company’s stock valued at $927,000 after purchasing an additional 54 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GS. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their target price on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Royal Bank of Canada boosted their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday, April 16th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley dropped their target price on shares of The Goldman Sachs Group from $486.00 to $475.00 and set an “overweight” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $443.78.

Insider Activity

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. In related news, Director David A. Viniar sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS traded up $6.36 during mid-day trading on Friday, reaching $452.32. The company’s stock had a trading volume of 3,839,657 shares, compared to its average volume of 1,900,364. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $471.48. The firm’s fifty day moving average price is $449.86 and its two-hundred day moving average price is $410.39. 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 stock has a market cap of $145.86 billion, a P/E ratio of 17.66, a PEG ratio of 0.90 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The business had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same quarter in the previous year, the firm earned $8.79 EPS. The Goldman Sachs Group’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 36.59 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th were given a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

About The Goldman Sachs Group

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.