Busey Wealth Management boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,770 shares of the investment management company’s stock after purchasing an additional 2,434 shares during the period. Busey Wealth Management’s holdings in The Goldman Sachs Group were worth $10,062,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GS. SevenBridge Financial Group LLC raised its stake in The Goldman Sachs Group by 1.8% during the 1st quarter. SevenBridge Financial Group LLC now owns 2,715 shares of the investment management company’s stock worth $888,000 after buying an additional 47 shares during the period. Arlington Partners LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $80,000. Bowling Portfolio Management LLC raised its stake in The Goldman Sachs Group by 10.7% in the first quarter. Bowling Portfolio Management LLC now owns 7,306 shares of the investment management company’s stock valued at $2,389,000 after buying an additional 705 shares during the last quarter. IFG Advisory LLC raised its position in shares of The Goldman Sachs Group by 60.7% in the 1st quarter. IFG Advisory LLC now owns 3,695 shares of the investment management company’s stock valued at $1,208,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Douglas Lane & Associates LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth $250,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.
Several research firms have commented on GS. Deutsche Bank Aktiengesellschaft upped their price target on shares of The Goldman Sachs Group from $310.00 to $365.00 and gave the company a “hold” rating in a report on Thursday, April 1st. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $308.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, January 20th. Daiwa Capital Markets began coverage on The Goldman Sachs Group in a research note on Wednesday, January 6th. They set an “outperform” rating and a $300.00 price target on the stock. UBS Group lowered The Goldman Sachs Group from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $320.00 to $340.00 in a research report on Thursday, April 1st. Finally, Berenberg Bank increased their price objective on shares of The Goldman Sachs Group from $270.00 to $330.00 and gave the company a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $351.23.
NYSE:GS traded up $0.13 during mid-day trading on Wednesday, hitting $332.01. 68,171 shares of the stock were exchanged, compared to its average volume of 3,316,112. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day simple moving average is $334.55 and its 200 day simple moving average is $272.69. The Goldman Sachs Group, Inc. has a fifty-two week low of $165.36 and a fifty-two week high of $356.85. The stock has a market capitalization of $114.81 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50.
The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, April 13th. The investment management company reported $18.60 earnings per share for the quarter, topping the consensus estimate of $10.22 by $8.38. The Goldman Sachs Group had a net margin of 16.65% and a return on equity of 11.23%. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter in the previous year, the company earned $3.11 EPS. The business’s revenue was up 102.4% on a year-over-year basis. On average, analysts predict that The Goldman Sachs Group, Inc. will post 26.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 29th. Stockholders of record on Tuesday, June 1st will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, May 28th. The Goldman Sachs Group’s payout ratio is presently 23.78%.
The Goldman Sachs Group Profile
The Goldman Sachs Group, Inc, a financial institution, provides range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services.
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