Blume Capital Management Inc. Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Blume Capital Management Inc. increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,076 shares of the investment management company’s stock after purchasing an additional 325 shares during the quarter. The Goldman Sachs Group makes up approximately 1.5% of Blume Capital Management Inc.’s portfolio, making the stock its 27th biggest holding. Blume Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $5,816,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. raised its holdings in The Goldman Sachs Group by 15.6% during the 3rd quarter. Brown Advisory Inc. now owns 13,462 shares of the investment management company’s stock valued at $4,356,000 after acquiring an additional 1,812 shares during the period. Lindbrook Capital LLC boosted its stake in The Goldman Sachs Group by 15.0% in the 3rd quarter. Lindbrook Capital LLC now owns 652 shares of the investment management company’s stock worth $211,000 after purchasing an additional 85 shares during the period. Brighton Jones LLC increased its position in shares of The Goldman Sachs Group by 4.5% during the third quarter. Brighton Jones LLC now owns 2,759 shares of the investment management company’s stock valued at $893,000 after buying an additional 119 shares during the period. Cambridge Trust Co. lifted its holdings in shares of The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after buying an additional 41 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of The Goldman Sachs Group by 1.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,021 shares of the investment management company’s stock valued at $26,217,000 after acquiring an additional 1,370 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction 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 sale, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were 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 $7,190,901.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,330 shares of company stock worth $11,713,578. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $3.62 during mid-day trading on Thursday, hitting $450.57. The company had a trading volume of 727,607 shares, compared to its average volume of 2,344,417. The company has a market capitalization of $146.22 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.38 and a beta of 1.40. The stock’s 50 day moving average price is $406.72 and its 200-day moving average price is $377.23. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $451.50. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76.

The Goldman Sachs Group (NYSE:GS) last released its quarterly 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 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% compared to the same quarter last year. During the same quarter last year, the business posted $8.79 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 36.07 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be paid a dividend of $2.75 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.44%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a report on Friday, April 5th. HSBC lifted their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada lifted their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.57.

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.