Summit Financial LLC Has $1.74 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Summit Financial LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,042 shares of the investment management company’s stock after buying an additional 251 shares during the period. Summit Financial LLC’s holdings in The Goldman Sachs Group were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GS. Stephens Consulting LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $26,000. Asset Planning Inc acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. Curio Wealth LLC bought a new position in The Goldman Sachs Group during the fourth quarter worth $30,000. Whipplewood Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $34,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in The Goldman Sachs Group during the fourth quarter valued at $37,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 0.4 %

Shares of The Goldman Sachs Group stock opened at $548.52 on Wednesday. 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 stock has a fifty day simple moving average of $604.83 and a 200 day simple moving average of $573.37. The Goldman Sachs Group, Inc. has a 12-month low of $387.12 and a 12-month high of $672.19. The company has a market capitalization of $171.16 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the prior year, the business posted $5.48 EPS. The business’s revenue was up 22.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a dividend of $3.00 per share. The ex-dividend date was Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 2.19%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,498 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now directly owns 9,589 shares in the company, valued at $6,086,042.41. The trade was a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin R. Johnson purchased 2,400 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $619.02 per share, with a total value of $1,485,648.00. Following the purchase, the director now owns 2,400 shares in the company, valued at $1,485,648. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 19,925 shares of company stock worth $12,630,683 in the last 90 days. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Morgan Stanley cut their target price on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays lifted their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $591.87.

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.