Firestone Capital Management Acquires Shares of 385 The Goldman Sachs Group, Inc. (NYSE:GS)

Firestone Capital Management purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 385 shares of the investment management company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stephens Consulting LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $26,000. Asset Planning Inc acquired a new position in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $30,000. Transce3nd LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Whipplewood Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $34,000. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays reduced their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Daiwa Capital Markets lowered The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Friday, April 4th. Oppenheimer cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Finally, Daiwa America downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $593.40.

Insider Buying and Selling

In related news, Director John B. Hess acquired 3,904 shares of the stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the purchase, the director now owns 3,904 shares of the company’s stock, valued at approximately $1,997,598.72. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $546.74 on Tuesday. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $425.19 and a fifty-two week high of $672.19. The firm has a market capitalization of $170.60 billion, a PE ratio of 13.48, a PEG ratio of 0.89 and a beta of 1.33. The stock’s fifty day moving average is $546.52 and its 200 day moving average is $574.64.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same period last year, the company posted $11.58 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s payout ratio is 27.85%.

The Goldman Sachs Group Company 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.