The Goldman Sachs Group, Inc. (NYSE:GS) Position Lifted by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 598.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,441 shares of the investment management company’s stock after purchasing an additional 21,798 shares during the period. The Goldman Sachs Group makes up approximately 0.3% of Sumitomo Life Insurance Co.’s holdings, making the stock its 29th biggest holding. Sumitomo Life Insurance Co.’s holdings in The Goldman Sachs Group were worth $14,568,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. West Branch Capital LLC acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth $30,000. DT Investment Partners LLC grew its position in shares of The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock valued at $31,000 after buying an additional 33 shares during the last quarter. Truvestments Capital LLC acquired a new stake in The Goldman Sachs Group during the third quarter worth about $34,000. Country Trust Bank acquired a new position in The Goldman Sachs Group in the third quarter valued at approximately $37,000. Finally, Capital Performance Advisors LLP bought a new position in shares of The Goldman Sachs Group during the third quarter valued at approximately $38,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.7 %

Shares of The Goldman Sachs Group stock opened at $637.71 on Wednesday. The business has a fifty day simple moving average of $592.09 and a 200-day simple moving average of $537.59. The Goldman Sachs Group, Inc. has a fifty-two week low of $374.24 and a fifty-two week high of $645.54. The firm has a market cap of $200.18 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.88 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 (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The Goldman Sachs Group’s revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the company earned $5.48 EPS. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 46.81 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 1.88%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $612.08, for a total value of $3,060,400.00. Following the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at $372,404,774. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Treasurer Carey Halio sold 3,640 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $636.74, for a total transaction of $2,317,733.60. Following the completion of the sale, the treasurer now owns 4,552 shares of the company’s stock, valued at approximately $2,898,440.48. This trade represents a 44.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,657 shares of company stock valued at $21,973,272. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. UBS Group boosted their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays boosted their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, JMP Securities raised their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $591.06.

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.