Provence Wealth Management Group Boosts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Provence Wealth Management Group boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 719 shares of the investment management company’s stock after buying an additional 52 shares during the period. Provence Wealth Management Group’s holdings in The Goldman Sachs Group were worth $277,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cambridge Trust Co. raised its stake in The Goldman Sachs Group by 82.0% during the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after purchasing an additional 41 shares during the period. Truvestments Capital LLC lifted its holdings in The Goldman Sachs Group by 88.0% in the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 44 shares during the last quarter. BKM Wealth Management LLC purchased a new position in The Goldman Sachs Group in the fourth quarter worth approximately $32,000. Signature Resources Capital Management LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $39,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $42,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the sale, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Viniar sold 5,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,330 shares of company stock valued at $11,713,578. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock traded up $5.61 during mid-day trading on Friday, hitting $438.18. 2,406,445 shares of the stock were exchanged, compared to its average volume of 2,599,859. The stock’s fifty day simple moving average is $404.59 and its two-hundred day simple moving average is $374.23. 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 12-month low of $289.36 and a 12-month high of $442.30. The stock has a market capitalization of $142.20 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.36 and a beta of 1.40.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.79 earnings per share. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 36.07 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be paid a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.51%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Analysts Set New Price Targets

A number of research analysts have commented on GS shares. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Edward Jones began coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a research note on Tuesday, April 16th. Finally, Bank of America lifted their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $437.04.

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.