Essex Investment Management Co. LLC Lowers Position in Goldman Sachs Group Inc (NYSE:GS)

Essex Investment Management Co. LLC reduced its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 26.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,453 shares of the investment management company’s stock after selling 12,361 shares during the period. Goldman Sachs Group accounts for approximately 1.2% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 13th biggest position. Essex Investment Management Co. LLC’s holdings in Goldman Sachs Group were worth $8,777,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Northwest Quadrant Wealth Management LLC acquired a new stake in Goldman Sachs Group during the 2nd quarter worth about $407,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Goldman Sachs Group during the 2nd quarter worth about $101,000. Sterling Investment Advisors Ltd. grew its holdings in Goldman Sachs Group by 35.7% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock worth $105,000 after acquiring an additional 125 shares during the period. Cerebellum GP LLC acquired a new stake in Goldman Sachs Group during the 4th quarter worth about $122,000. Finally, Gs Investments Inc. acquired a new stake in Goldman Sachs Group during the 2nd quarter worth about $111,000. 73.28% of the stock is owned by institutional investors and hedge funds.

Goldman Sachs Group Inc (NYSE GS) traded up $6.27 during trading on Wednesday, hitting $261.80. 2,484,210 shares of the company’s stock traded hands, compared to its average volume of 4,056,628. Goldman Sachs Group Inc has a 1 year low of $209.62 and a 1 year high of $273.79. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $97,780.00, a PE ratio of 13.14, a P/E/G ratio of 0.91 and a beta of 1.37.

Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 17th. The investment management company reported $5.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.90 by $0.78. Goldman Sachs Group had a net margin of 13.36% and a return on equity of 11.47%. The firm had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter last year, the firm earned $5.08 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. sell-side analysts expect that Goldman Sachs Group Inc will post 21.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.15%. Goldman Sachs Group’s dividend payout ratio is currently 15.03%.

Several analysts have recently commented on GS shares. BMO Capital Markets raised their target price on Goldman Sachs Group from $202.00 to $217.00 and gave the company a “market perform” rating in a research note on Wednesday, October 18th. Morgan Stanley raised their target price on Goldman Sachs Group from $265.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Buckingham Research restated a “neutral” rating and issued a $250.00 target price (up from $243.00) on shares of Goldman Sachs Group in a research note on Wednesday, October 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a research note on Thursday, October 19th. Finally, Societe Generale set a $198.00 target price on Goldman Sachs Group and gave the company a “sell” rating in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Goldman Sachs Group has an average rating of “Hold” and an average price target of $256.75.

In other Goldman Sachs Group news, insider David M. Solomon sold 21,252 shares of Goldman Sachs Group stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $271.65, for a total transaction of $5,773,105.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Richard J. Gnodde sold 5,718 shares of Goldman Sachs Group stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $238.99, for a total transaction of $1,366,544.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,843 shares of company stock worth $41,855,427. Insiders own 2.57% of the company’s stock.

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About Goldman Sachs Group

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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