Groesbeck Investment Management Corp NJ Sells 396 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Groesbeck Investment Management Corp NJ cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,575 shares of the investment management company's stock after selling 396 shares during the quarter. The Goldman Sachs Group accounts for about 1.9% of Groesbeck Investment Management Corp NJ's portfolio, making the stock its 16th biggest holding. Groesbeck Investment Management Corp NJ's holdings in The Goldman Sachs Group were worth $1,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GS. Mizuho Securities USA LLC grew its stake in The Goldman Sachs Group by 30,068.9% in 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 in the last quarter. Fisher Asset Management LLC grew its stake in The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company's stock valued at $2,991,772,000 after purchasing an additional 161,133 shares in the last quarter. FMR LLC grew its stake in 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 purchasing an additional 521,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Goldman Sachs Group by 1.1% in the third 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 in the last quarter. Finally, Franklin Resources Inc. grew its stake in The Goldman Sachs Group by 3.9% in the third quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company's stock valued at $898,428,000 after purchasing an additional 62,246 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of analyst reports. Bank of America raised their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. JMP Securities raised their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price objective on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Hsbc Global Res cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Finally, Evercore ISI raised their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $591.06.

Insider Activity

In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the transaction, the director now owns 608,425 shares in the company, valued at approximately $372,404,774. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the sale, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,475 shares of company stock worth $19,692,543. Insiders own 0.57% of the company's stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $634.48 on Wednesday. The stock's fifty day moving average price is $596.65 and its two-hundred day moving average price is $542.74. The Goldman Sachs Group, Inc. has a one year low of $375.20 and a one year high of $650.00. 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 has a market cap of $196.97 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same quarter last year, the company earned $5.48 EPS. The company's revenue was up 22.5% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.1 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. Stockholders of record on Friday, February 28th will be paid a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 1.89%. The Goldman Sachs Group's payout ratio is 29.59%.

The Goldman Sachs Group 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.

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