Narwhal Capital Management Sells 6,370 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Narwhal Capital Management trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 18.4% in the fourth quarter, Holdings Channel reports. The firm owned 28,249 shares of the investment management company’s stock after selling 6,370 shares during the quarter. The Goldman Sachs Group comprises approximately 1.4% of Narwhal Capital Management’s investment portfolio, making the stock its 17th biggest position. Narwhal Capital Management’s holdings in The Goldman Sachs Group were worth $16,176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of The Goldman Sachs Group by 36.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,495 shares of the investment management company’s stock worth $1,429,000 after purchasing an additional 673 shares during the last quarter. High Net Worth Advisory Group LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth approximately $644,000. Crescent Grove Advisors LLC lifted its position in shares of The Goldman Sachs Group by 22.7% in the fourth quarter. Crescent Grove Advisors LLC now owns 502 shares of the investment management company’s stock valued at $287,000 after buying an additional 93 shares during the last quarter. Marshall Financial Group LLC lifted its position in shares of The Goldman Sachs Group by 32.5% in the fourth quarter. Marshall Financial Group LLC now owns 562 shares of the investment management company’s stock valued at $322,000 after buying an additional 138 shares during the last quarter. Finally, Park Edge Advisors LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $703,000. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Barclays increased their price objective on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $591.06.

The Goldman Sachs Group Stock Down 0.4 %

GS stock opened at $636.80 on Monday. The Goldman Sachs Group, Inc. has a 52 week low of $374.24 and a 52 week high of $645.54. The business has a 50-day simple moving average of $591.21 and a 200 day simple moving average of $536.11. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market cap of $199.90 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.88 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate 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 net margin of 11.32% and a return on equity of 13.30%. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.48 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 46.81 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 Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Insider Activity

In other news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the completion of the transaction, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,017 shares of company stock worth $19,655,538. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group 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.