CCM Investment Advisers LLC cut its stake in Goldman Sachs Group, Inc. (The) (NYSE:GS) by 11.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,465 shares of the investment management company’s stock after selling 555 shares during the period. CCM Investment Advisers LLC’s holdings in Goldman Sachs Group, Inc. (The) were worth $1,025,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GS. Campbell Newman Asset Management Inc. acquired a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter worth approximately $718,000. Amarillo National Bank acquired a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter worth approximately $238,000. Atria Investments LLC raised its position in shares of Goldman Sachs Group, Inc. (The) by 38.7% in the first quarter. Atria Investments LLC now owns 4,173 shares of the investment management company’s stock worth $959,000 after buying an additional 1,164 shares during the period. Integrated Wealth Management raised its position in shares of Goldman Sachs Group, Inc. (The) by 30.1% in the first quarter. Integrated Wealth Management now owns 1,183 shares of the investment management company’s stock worth $272,000 after buying an additional 274 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter worth approximately $620,000. 74.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Goldman Sachs Group, Inc. (NYSE:GS) traded up 0.22% during midday trading on Tuesday, reaching $227.86. The company’s stock had a trading volume of 861,011 shares. The stock has a 50-day moving average of $225.35 and a 200 day moving average of $229.55. The company has a market cap of $88.46 billion, a price-to-earnings ratio of 11.95 and a beta of 1.42. Goldman Sachs Group, Inc. has a 12 month low of $157.77 and a 12 month high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a return on equity of 11.27% and a net margin of 26.44%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same period in the previous year, the firm earned $3.72 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, analysts predict that Goldman Sachs Group, Inc. will post $18.23 earnings per share for the current fiscal year.

Goldman Sachs Group, Inc. (The) declared that its board has initiated a share repurchase plan on Tuesday, April 18th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the investment management company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. Goldman Sachs Group, Inc. (The)’s payout ratio is 15.74%.

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A number of research analysts have recently commented on GS shares. HSBC Holdings plc reissued a “buy” rating and set a $275.00 price target on shares of Goldman Sachs Group, Inc. (The) in a report on Tuesday, April 25th. UBS AG reissued a “buy” rating and set a $285.00 price target on shares of Goldman Sachs Group, Inc. (The) in a report on Wednesday, April 19th. Bank of America Corporation lowered their price target on Goldman Sachs Group, Inc. (The) from $275.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Credit Suisse Group reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Wednesday, April 19th. Finally, Keefe, Bruyette & Woods set a $260.00 price target on Goldman Sachs Group, Inc. (The) and gave the company a “buy” rating in a report on Saturday, May 6th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $235.44.

In other Goldman Sachs Group, Inc. (The) news, insider David M. Solomon sold 3,260 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $231.59, for a total value of $754,983.40. Following the completion of the transaction, the insider now directly owns 177,594 shares of the company’s stock, valued at $41,128,994.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 17,685 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $235.02, for a total value of $4,156,328.70. Following the completion of the transaction, the executive vice president now directly owns 80,109 shares of the company’s stock, valued at $18,827,217.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,535 shares of company stock valued at $5,956,868. Insiders own 2.57% of the company’s stock.

Goldman Sachs Group, Inc. (The) Company Profile

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.

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Institutional Ownership by Quarter for Goldman Sachs Group, Inc. (The) (NYSE:GS)

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