Onyx Bridge Wealth Group LLC Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Onyx Bridge Wealth Group LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 462 shares of the investment management company’s stock after selling 16 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in The Goldman Sachs Group were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stephens Consulting LLC purchased a new position in The Goldman Sachs Group during the 4th quarter worth $26,000. West Branch Capital LLC purchased a new position in The Goldman Sachs Group during the 3rd quarter worth $30,000. DT Investment Partners LLC lifted its position in The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after acquiring an additional 33 shares during the period. Truvestments Capital LLC acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth about $34,000. Finally, Capital Performance Advisors LLP acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth about $38,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $657.47 on Friday. The stock has a market capitalization of $204.11 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 0.89 and a beta of 1.39. The Goldman Sachs Group, Inc. has a twelve month low of $375.20 and a twelve month high of $658.85. 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 stock has a 50-day moving average of $598.03 and a 200 day moving average of $544.50.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $5.48 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.1 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 1.83%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 29.59%.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI lifted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group lifted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Finally, HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $591.06.

Insiders Place Their Bets

In other news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $610.91, for a total value of $4,001,460.50. Following the completion of the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at $72,015,903.53. This represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the completion of the sale, the insider now owns 9,589 shares of the company’s stock, valued at $6,086,042.41. This trade represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,475 shares of company stock worth $19,692,543. Corporate insiders own 0.57% of the company’s stock.

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.