Edge Wealth Management LLC Takes Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Edge Wealth Management LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 377 shares of the investment management company’s stock, valued at approximately $216,000.

Other large investors also recently bought and sold shares of the company. Mizuho Securities USA LLC grew its position in shares of The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. FMR LLC boosted its stake in The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after purchasing an additional 521,054 shares during the period. 1832 Asset Management L.P. increased its stake in The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after purchasing an additional 438,754 shares during the period. Janus Henderson Group PLC raised its holdings in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after buying an additional 251,972 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of The Goldman Sachs Group by 829.0% during the third quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock worth $128,886,000 after buying an additional 232,297 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at approximately $372,404,774. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,940 shares of company stock valued at $12,656,179. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. JMP Securities raised their target price on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $589.19.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $612.17 on Friday. The company’s fifty day simple moving average is $585.87 and its 200-day simple moving average is $528.13. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 52 week low of $372.07 and a 52 week high of $616.84. The company has a market cap of $192.17 billion, a PE ratio of 17.96, a P/E/G ratio of 0.66 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.48 earnings per share. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.24 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 1.96%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

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.