The Goldman Sachs Group, Inc. (NYSE:GS) Stock Holdings Lessened by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,725 shares of the investment management company’s stock after selling 80 shares during the period. The Goldman Sachs Group accounts for approximately 2.0% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 15th biggest position. Groesbeck Investment Management Corp NJ’s holdings in The Goldman Sachs Group were worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its position in The Goldman Sachs Group by 13.7% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after purchasing an additional 20,018 shares in the last quarter. Trueblood Wealth Management LLC purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $989,000. TBH Global Asset Management LLC grew its position in The Goldman Sachs Group by 2.0% during the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock worth $1,190,000 after purchasing an additional 72 shares in the last quarter. Congress Wealth Management LLC DE grew its position in The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after purchasing an additional 650,918 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at $1,395,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS traded up $2.64 during trading hours on Thursday, reaching $406.55. 1,319,180 shares of the company traded hands, compared to its average volume of 2,349,183. The stock’s fifty day moving average is $395.67 and its 200 day moving average is $365.35. The stock has a market cap of $131.94 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $419.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.79 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 32.76 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GS. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada boosted their price target on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday. Morgan Stanley upgraded shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $333.00 to $449.00 in a report on Tuesday, January 30th. Barclays boosted their price target on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.93.

Insider Activity

In related news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,907 shares of company stock valued at $13,950,851. Insiders own 0.54% of the company’s stock.

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.