Shorepath Capital Management LLC Takes $10.25 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Shorepath Capital Management LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, Holdings Channel reports. The firm bought 26,568 shares of the investment management company’s stock, valued at approximately $10,249,000. The Goldman Sachs Group makes up 9.1% of Shorepath Capital Management LLC’s investment portfolio, making the stock its biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group in the 4th quarter valued at approximately $29,000. EP Wealth Advisors LLC lifted its position in shares of The Goldman Sachs Group by 25.4% in the fourth quarter. EP Wealth Advisors LLC now owns 3,649 shares of the investment management company’s stock valued at $1,408,000 after acquiring an additional 740 shares in the last quarter. Syon Capital LLC boosted its stake in shares of The Goldman Sachs Group by 19.1% during the fourth quarter. Syon Capital LLC now owns 5,135 shares of the investment management company’s stock valued at $1,981,000 after acquiring an additional 824 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at $285,000. Finally, Scarborough Advisors LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at about $57,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GS has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. HSBC lifted their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Edward Jones assumed coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Evercore ISI upped their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their target price on 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. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $440.57.

The Goldman Sachs Group Stock Up 0.0 %

The Goldman Sachs Group stock traded up $0.11 during trading on Friday, reaching $446.46. 1,559,064 shares of the company’s stock were exchanged, compared to its average volume of 1,947,240. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $471.48. The firm has a market cap of $143.97 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.90 and a beta of 1.39. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The company’s 50-day moving average is $439.28 and its two-hundred day moving average is $403.21.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.79 earnings per share. On average, analysts predict that The Goldman Sachs Group, Inc. will post 36.57 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders 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 2.46%. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were 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 directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

About The Goldman Sachs Group

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.