Drive Wealth Management LLC raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921 shares of the investment management company’s stock after buying an additional 24 shares during the period. Drive Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $527,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Procyon Advisors LLC grew its position in The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after buying an additional 43 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter worth about $5,529,000. Franklin Street Advisors Inc. NC raised its holdings in The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock worth $21,934,000 after purchasing an additional 2,863 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in The Goldman Sachs Group by 30.3% in the fourth quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock valued at $122,453,000 after purchasing an additional 49,710 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GS has been the subject of a number of analyst reports. UBS Group increased their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Barclays upped their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley raised their price objective on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average target price of $591.06.
Insider Buying and Selling at The Goldman Sachs Group
In related news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the completion of the transaction, the insider now directly owns 9,589 shares in the company, valued at $6,086,042.41. This trade represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,017 shares of company stock valued at $19,655,538. Company insiders own 0.54% of the company’s stock.
The Goldman Sachs Group Trading Down 0.4 %
Shares of The Goldman Sachs Group stock opened at $636.80 on Monday. The Goldman Sachs Group, Inc. has a fifty-two week low of $374.24 and a fifty-two week high of $645.54. The business’s fifty day moving average is $591.21 and its two-hundred day moving average is $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 firm has a market cap of $199.90 billion, a PE ratio of 15.70, a P/E/G ratio of 0.88 and a beta of 1.38.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period in the prior year, the firm posted $5.48 EPS. The company’s revenue was up 22.5% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 46.81 earnings per share for the current year.
The Goldman Sachs Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 29.59%.
About The Goldman Sachs Group
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.
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