Successful Portfolios LLC Buys New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

Successful Portfolios LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 527 shares of the investment management company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GS. First Foundation Advisors lifted its stake in shares of The Goldman Sachs Group by 18.4% in the second quarter. First Foundation Advisors now owns 1,771 shares of the investment management company’s stock valued at $571,000 after buying an additional 275 shares in the last quarter. TBH Global Asset Management LLC grew its position in shares of The Goldman Sachs Group by 2.0% in the third quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock valued at $1,190,000 after purchasing an additional 72 shares in the last quarter. Congress Wealth Management LLC DE raised its position in The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after purchasing an additional 650,918 shares during the period. Syon Capital LLC purchased a new stake in shares of The Goldman Sachs Group during the third quarter valued at approximately $1,395,000. Finally, Fort Point Capital Partners LLC raised its holdings in The Goldman Sachs Group by 11.1% in the 2nd quarter. Fort Point Capital Partners LLC now owns 728 shares of the investment management company’s stock worth $235,000 after purchasing an additional 73 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 0.6 %

The Goldman Sachs Group stock traded up $2.44 during midday trading on Thursday, hitting $417.69. 2,400,424 shares of the stock were exchanged, compared to its average volume of 2,341,559. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.76 and a quick ratio of 0.76. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $419.20. The company has a 50 day moving average price of $388.58 and a two-hundred day moving average price of $357.54. The firm has a market cap of $135.55 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.56 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share for the quarter, topping the consensus estimate of $3.62 by $1.86. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The firm had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the company earned $3.32 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 33.13 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be given a dividend of $2.75 per share. The ex-dividend date is Wednesday, February 28th. This represents a $11.00 dividend on an annualized basis and a yield of 2.63%. The Goldman Sachs Group’s payout ratio is presently 48.20%.

Insider Buying and Selling

In other news, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the transaction, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now directly owns 10,121 shares of the company’s stock, valued at approximately $3,809,443.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,907 shares of company stock worth $15,080,021. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GS. Edward Jones started coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. UBS Group upped their price objective on The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $410.00 to $430.00 in a report on Thursday, March 14th. Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $333.00 to $449.00 in a research note on Tuesday, January 30th. Finally, JMP Securities reissued a “market outperform” rating and set a $440.00 price target on shares of The Goldman Sachs Group in a research note on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $411.10.

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.