B. Riley Wealth Advisors Inc. grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,333 shares of the investment management company’s stock after acquiring an additional 178 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The Goldman Sachs Group were worth $4,922,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GS. Visionary Wealth Advisors lifted its holdings in shares of The Goldman Sachs Group by 2.3% during the 3rd quarter. Visionary Wealth Advisors now owns 1,262 shares of the investment management company’s stock valued at $370,000 after purchasing an additional 28 shares during the last quarter. Magnus Financial Group LLC lifted its holdings in shares of The Goldman Sachs Group by 1.0% during the 4th quarter. Magnus Financial Group LLC now owns 2,933 shares of the investment management company’s stock valued at $1,007,000 after purchasing an additional 28 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in The Goldman Sachs Group by 0.6% in the 4th quarter. Aviance Capital Partners LLC now owns 4,866 shares of the investment management company’s stock worth $1,671,000 after purchasing an additional 28 shares in the last quarter. Platform Technology Partners boosted its stake in The Goldman Sachs Group by 0.7% in the 4th quarter. Platform Technology Partners now owns 4,218 shares of the investment management company’s stock worth $1,449,000 after purchasing an additional 29 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its stake in The Goldman Sachs Group by 1.4% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,040 shares of the investment management company’s stock worth $701,000 after purchasing an additional 29 shares in the last quarter. 69.09% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of The Goldman Sachs Group stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $21.61, for a total value of $536,348,811.53. Following the sale, the insider now directly owns 110,337 shares in the company, valued at approximately $2,384,382.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $332.67, for a total transaction of $2,420,839.59. Following the completion of the sale, the insider now owns 4,334 shares of the company’s stock, valued at $1,441,791.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Goldman Sachs Group Inc sold 24,819,473 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $21.61, for a total value of $536,348,811.53. Following the completion of the sale, the insider now directly owns 110,337 shares of the company’s stock, valued at approximately $2,384,382.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,935,026 shares of company stock worth $647,273,318. Insiders own 0.54% of the company’s stock.
The Goldman Sachs Group Trading Down 0.4 %
Shares of NYSE:GS opened at $338.31 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $277.84 and a 1 year high of $389.58. The firm has a market capitalization of $112.47 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.90 and a beta of 1.41. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day moving average price is $330.93 and its 200-day moving average price is $343.13.
The Goldman Sachs Group (NYSE:GS – Get Rating) last announced its earnings results on Tuesday, April 18th. The investment management company reported $8.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.14 by $0.65. The Goldman Sachs Group had a return on equity of 9.84% and a net margin of 13.23%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $12.66 billion. During the same quarter last year, the firm posted $10.76 EPS. The business’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 31.57 earnings per share for the current fiscal year.
The Goldman Sachs Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 1st will be issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.96%. The ex-dividend date is Wednesday, May 31st. The Goldman Sachs Group’s payout ratio is 35.60%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on GS shares. Barclays lowered their target price on shares of The Goldman Sachs Group from $495.00 to $437.00 and set an “overweight” rating for the company in a research note on Wednesday, April 12th. StockNews.com started coverage on The Goldman Sachs Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. UBS Group upgraded The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 11th. JPMorgan Chase & Co. dropped their price target on The Goldman Sachs Group from $430.00 to $415.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. Finally, Bank of America boosted their price target on The Goldman Sachs Group from $384.00 to $425.00 in a research note on Thursday, March 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $389.17.
About The Goldman Sachs Group
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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 resale agreements.
Further Reading
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