Corundum Group Inc. Increases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Corundum Group Inc. grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 117.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,563 shares of the investment management company’s stock after purchasing an additional 1,385 shares during the period. Corundum Group Inc.’s holdings in The Goldman Sachs Group were worth $1,468,000 at the end of the most recent quarter.

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

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, 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 document filed with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,940 shares of company stock valued at $12,656,179 in the last three months. 0.57% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $626.84 on Monday. The firm has a market capitalization of $196.77 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.66 and a beta of 1.38. The company has a quick ratio of 0.67, a current 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 $627.00. The firm’s 50 day moving average is $587.22 and its two-hundred day moving average is $530.29.

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

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GS. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Oppenheimer decreased their target price on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Bank of America increased their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays lifted their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group reissued a “neutral” rating and issued a $610.00 price objective on shares of The Goldman Sachs Group in a report on Monday, January 6th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $589.19.

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.