Destination Wealth Management Invests $488,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Destination Wealth Management acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 853 shares of the investment management company's stock, valued at approximately $488,000.

A number of other institutional investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC lifted its position in The Goldman Sachs Group by 30,068.9% during the third 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 during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company's stock valued at $3,524,669,000 after acquiring an additional 112,696 shares during the last quarter. FMR LLC increased its stake in The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company's stock worth $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in The Goldman Sachs Group by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,936,853 shares of the investment management company's stock valued at $1,109,081,000 after purchasing an additional 22,794 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of The Goldman Sachs Group by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,707,632 shares of the investment management company's stock valued at $845,466,000 after purchasing an additional 18,541 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

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Insider Activity

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the sale, the treasurer now owns 8,192 shares of the company's stock, valued at approximately $5,117,296.64. The trade was a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin R. Johnson purchased 2,400 shares of the firm's stock in a transaction on Friday, January 17th. The stock was bought at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the acquisition, the director now owns 2,400 shares of the company's stock, valued at approximately $1,485,648. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 19,925 shares of company stock worth $12,630,683. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Citigroup upped their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a "neutral" rating in a report on Thursday, November 21st. Barclays boosted their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, HSBC downgraded The Goldman Sachs Group from a "buy" rating to a "hold" rating and increased their price target for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $591.69.

The Goldman Sachs Group Stock Down 1.4 %

Shares of NYSE:GS traded down $8.13 on Friday, reaching $559.55. The company had a trading volume of 4,069,475 shares, compared to its average volume of 2,704,592. The firm has a market capitalization of $174.60 billion, a PE ratio of 13.80, a PEG ratio of 0.89 and a beta of 1.37. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 52-week low of $381.42 and a 52-week high of $672.19. The firm's 50 day simple moving average is $616.96 and its 200-day simple moving average is $565.76.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the previous year, the firm earned $5.48 earnings per share. The firm's quarterly revenue was up 22.5% compared to the same quarter last year. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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. Stockholders of record on Friday, February 28th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group's payout ratio is presently 29.59%.

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.