The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 makes up 2.0% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 15th largest position. Groesbeck Investment Management Corp NJ’s holdings in The Goldman Sachs Group were worth $1,437,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after purchasing an additional 1,696,350 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of The Goldman Sachs Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 4,764,509 shares of the investment management company’s stock valued at $1,396,236,000 after purchasing an additional 52,016 shares during the period. Northern Trust Corp increased its holdings in shares of The Goldman Sachs Group by 3.2% in the third quarter. Northern Trust Corp now owns 3,339,851 shares of the investment management company’s stock valued at $1,080,676,000 after purchasing an additional 104,424 shares during the period. Invesco Ltd. increased its holdings in shares of The Goldman Sachs Group by 6.1% in the third quarter. Invesco Ltd. now owns 2,792,239 shares of the investment management company’s stock valued at $903,485,000 after purchasing an additional 159,512 shares during the period. Finally, Norges Bank acquired a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $759,531,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded up $2.64 during midday trading on Thursday, hitting $406.55. The stock had a trading volume of 1,319,180 shares, compared to its average volume of 2,349,183. The company has a market capitalization of $131.94 billion, a PE ratio of 15.88, a P/E/G ratio of 1.54 and a beta of 1.43. The stock has a 50 day simple moving average of $395.67 and a 200-day simple moving average of $365.35. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $8.79 earnings per share. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 32.76 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.71%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research reports. Bank of America increased their price objective on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a report on Tuesday. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. JMP Securities upped their target price on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Edward Jones started coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets upped their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $434.93.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. In related news, insider Kathryn H. Ruemmler sold 7,277 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the sale, the insider now owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, 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. 0.54% of the stock is currently owned by insiders.

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.