Sierra Summit Advisors LLC Raises Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Sierra Summit Advisors LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 76.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,550 shares of the investment management company’s stock after purchasing an additional 1,102 shares during the quarter. Sierra Summit Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. grew its holdings in The Goldman Sachs Group by 2.5% in 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 purchasing an additional 5,541 shares during the last quarter. Baxter Bros Inc. grew its stake in The Goldman Sachs Group by 1.0% in the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company’s stock valued at $8,879,000 after acquiring an additional 151 shares during the last quarter. Erste Asset Management GmbH increased its holdings in 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 in the last quarter. Franklin Street Advisors Inc. NC increased its holdings in The Goldman Sachs Group by 8.1% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after acquiring an additional 2,863 shares in the last quarter. Finally, Atlas Legacy Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth about $356,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin R. Johnson bought 2,400 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 19,925 shares of company stock worth $12,630,683. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Down 8.1 %

Shares of GS opened at $469.57 on Monday. The firm has a market cap of $146.52 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company’s fifty day moving average is $597.54 and its two-hundred day moving average is $573.99. The Goldman Sachs Group, Inc. has a fifty-two week low of $387.12 and a fifty-two week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.48 earnings per share. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of recent research reports. Citigroup dropped 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 note on Monday, March 24th. Daiwa Capital Markets downgraded The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price target for the company. in a research report on Friday. Morgan Stanley cut their price target on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Finally, Barclays upped their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $589.19.

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.