Congress Wealth Management LLC DE cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,199 shares of the investment management company's stock after selling 14,329 shares during the period. Congress Wealth Management LLC DE's holdings in The Goldman Sachs Group were worth $30,464,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GS. Asset Management One Co. Ltd. lifted its holdings in shares of The Goldman Sachs Group by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company's stock valued at $129,144,000 after acquiring an additional 5,541 shares during the last quarter. Erste Asset Management GmbH raised its holdings in The Goldman Sachs Group by 5.9% during the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company's stock valued at $3,309,000 after buying an additional 320 shares during the period. Franklin Street Advisors Inc. NC lifted its stake in The Goldman Sachs Group by 8.1% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company's stock worth $21,934,000 after purchasing an additional 2,863 shares during the last quarter. Atlas Legacy Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $356,000. Finally, Park Edge Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at $703,000. Hedge funds and other institutional investors own 71.21% of the company's stock.
Wall Street Analysts Forecast Growth
GS has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on The Goldman Sachs Group from $782.00 to $659.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. HSBC downgraded shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating and raised their target price for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the company an "overweight" rating in a research note on Tuesday. Hsbc Global Res lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $593.27.
Check Out Our Latest Stock Analysis on GS
Insiders Place Their Bets
In related news, insider Alex S. Golten sold 5,208 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the sale, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. The trade was a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Carey Halio sold 3,640 shares of the 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 transaction, the treasurer now owns 4,552 shares in the company, valued at $2,898,440.48. This represents a 44.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 in the last ninety days. Insiders own 0.54% of the company's stock.
The Goldman Sachs Group Trading Up 1.0 %
Shares of NYSE:GS traded up $6.06 during mid-day trading on Tuesday, reaching $586.16. 1,874,499 shares of the company were exchanged, compared to its average volume of 2,241,621. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The firm's 50-day simple moving average is $611.53 and its 200 day simple moving average is $570.61. The Goldman Sachs Group, Inc. has a 1 year low of $387.12 and a 1 year high of $672.19. The firm has a market cap of $182.90 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.89 and a beta of 1.37.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group's revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.48 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.
The Goldman Sachs Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 29.59%.
About The Goldman Sachs Group
(
Free Report)
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.
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