Strong Tower Advisory Services Boosts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Strong Tower Advisory Services lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,646 shares of the investment management company’s stock after purchasing an additional 278 shares during the period. The Goldman Sachs Group comprises about 1.8% of Strong Tower Advisory Services’ portfolio, making the stock its 20th largest holding. Strong Tower Advisory Services’ holdings in The Goldman Sachs Group were worth $4,107,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Cambridge Trust Co. boosted its holdings in The Goldman Sachs Group by 82.0% in the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after buying an additional 41 shares during the last quarter. Truvestments Capital LLC increased its position in shares of The Goldman Sachs Group by 88.0% during the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after purchasing an additional 44 shares in the last quarter. BKM Wealth Management LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at $32,000. Pacific Center for Financial Services purchased a new position in The Goldman Sachs Group in the 1st quarter valued at $33,000. Finally, Worth Asset Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the topic of several research reports. Oppenheimer decreased their price target on shares of The Goldman Sachs Group from $506.00 to $446.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. Edward Jones assumed coverage on shares of The Goldman Sachs Group in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. JMP Securities restated a “market outperform” rating and set a $440.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, January 17th. HSBC increased their price target on The Goldman Sachs Group from $432.00 to $460.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays upped their target price on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $411.10.

The Goldman Sachs Group Stock Up 0.6 %

Shares of GS opened at $417.69 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $135.55 billion, a PE ratio of 18.30, a P/E/G ratio of 1.59 and a beta of 1.42. The company’s 50-day simple moving average is $388.58 and its 200-day simple moving average is $357.54. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $419.20.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $1.86. The Goldman Sachs Group had a net margin of 7.85% and a return on equity of 8.03%. The company had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the business earned $3.32 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Wednesday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 48.20%.

Insider Activity

In related news, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the sale, the insider now directly owns 10,121 shares in the company, valued at approximately $3,809,443.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,907 shares of company stock worth $15,080,021. 0.54% of the stock is currently owned by company insiders.

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.