CIBC Asset Management Inc Increases Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

CIBC Asset Management Inc boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,769 shares of the investment management company’s stock after purchasing an additional 1,289 shares during the period. CIBC Asset Management Inc’s holdings in The Goldman Sachs Group were worth $33,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Stephens Consulting LLC purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $26,000. Asset Planning Inc purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at $29,000. DT Investment Partners LLC grew its position in The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after purchasing an additional 33 shares during the period. Truvestments Capital LLC purchased a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at about $34,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In related news, Director Kevin R. Johnson bought 2,400 shares of the stock in a transaction on Friday, January 17th. The stock was bought at an average price of $619.02 per share, with a total value of $1,485,648.00. Following the completion of the purchase, the director now directly owns 2,400 shares in the company, valued at $1,485,648. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the transaction, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock worth $19,692,543 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 1.9 %

Shares of GS opened at $661.56 on Tuesday. The stock has a 50 day moving average price of $605.16 and a 200 day moving average price of $552.61. The Goldman Sachs Group, Inc. has a one year low of $379.14 and a one year high of $663.87. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $205.38 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.91 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.48 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Oppenheimer decreased their price objective on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Barclays raised their target price on 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. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $591.06.

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.