RNC Capital Management LLC Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

RNC Capital Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,712 shares of the investment management company’s stock after selling 138 shares during the period. RNC Capital Management LLC’s holdings in The Goldman Sachs Group were worth $660,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GS. PFG Investments LLC increased its position in shares of The Goldman Sachs Group by 4.4% during the fourth quarter. PFG Investments LLC now owns 2,747 shares of the investment management company’s stock valued at $1,060,000 after acquiring an additional 117 shares in the last quarter. Sandy Cove Advisors LLC increased its position in shares of The Goldman Sachs Group by 5.9% during the fourth quarter. Sandy Cove Advisors LLC now owns 699 shares of the investment management company’s stock valued at $270,000 after acquiring an additional 39 shares in the last quarter. Flagship Private Wealth LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $210,000. Atticus Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 8.6% during the fourth quarter. Atticus Wealth Management LLC now owns 380 shares of the investment management company’s stock valued at $147,000 after acquiring an additional 30 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of The Goldman Sachs Group by 12.4% during the fourth quarter. Douglas Lane & Associates LLC now owns 861 shares of the investment management company’s stock valued at $332,000 after acquiring an additional 95 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In related news, 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 transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders have sold a total of 38,907 shares of company stock worth $15,080,021 in the last three months. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GS shares. JMP Securities reissued a “market outperform” rating and set a $440.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, January 17th. Oppenheimer cut their target price on shares of The Goldman Sachs Group from $506.00 to $446.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $390.00 price target on shares of The Goldman Sachs Group in a research note on Wednesday. Finally, Barclays lifted their price target on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $407.75.

The Goldman Sachs Group Stock Up 2.2 %

Shares of GS stock opened at $415.21 on Thursday. The stock has a market cap of $134.75 billion, a P/E ratio of 18.20, a PEG ratio of 1.56 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $416.76. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.29. The company’s fifty day simple moving average is $387.82 and its two-hundred day simple moving average is $357.13.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, January 16th. The investment management company reported $5.48 EPS for the quarter, topping the consensus estimate of $3.62 by $1.86. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The business had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the previous year, the company earned $3.32 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that The Goldman Sachs Group, Inc. will post 33.13 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.65%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 48.20%.

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.