Summit Securities Group LLC Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Summit Securities Group LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,600 shares of the investment management company's stock, valued at approximately $8,360,000. The Goldman Sachs Group makes up 1.7% of Summit Securities Group LLC's portfolio, making the stock its 7th largest position.

A number of other large investors have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its stake in The Goldman Sachs Group by 2.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company's stock valued at $129,144,000 after buying an additional 5,541 shares during the period. Erste Asset Management GmbH boosted its position in shares of 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 acquiring an additional 320 shares during the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of The Goldman Sachs Group by 8.1% during 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 in the last quarter. Atlas Legacy Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $356,000. Finally, Park Edge Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $703,000. 71.21% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently issued reports on GS. Barclays raised their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Citigroup lowered their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Tuesday, January 21st. Finally, Evercore ISI cut their target price on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and an average price target of $591.87.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the completion of the sale, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total transaction of $4,758,905.62. Following the completion of the transaction, the insider now owns 9,589 shares in the company, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,925 shares of company stock valued at $12,630,683 in the last 90 days. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 3.3 %

The Goldman Sachs Group stock traded up $18.35 on Wednesday, hitting $566.80. 958,527 shares of the stock traded hands, compared to its average volume of 2,275,186. 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 $176.86 billion, a P/E ratio of 13.98, a price-to-earnings-growth 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 business's fifty day simple moving average is $604.83 and its 200 day simple moving average is $573.37.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) 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 analysts' expectations 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 last year, the company posted $5.48 EPS. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 2.12%. The Goldman Sachs Group's payout ratio is currently 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.