CIBC Asset Management Inc Boosts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

CIBC Asset Management Inc boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,769 shares of the investment management company’s stock after purchasing an additional 1,289 shares during the quarter. CIBC Asset Management Inc’s holdings in The Goldman Sachs Group were worth $33,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC lifted its position in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. FMR LLC raised its holdings in shares of The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after acquiring an additional 521,054 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of The Goldman Sachs Group by 154.7% during the 3rd quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after acquiring an additional 251,972 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of The Goldman Sachs Group by 829.0% in the third quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock valued at $128,886,000 after purchasing an additional 232,297 shares in the last quarter. Finally, National Bank of Canada FI increased its position in The Goldman Sachs Group by 45.9% in the third quarter. National Bank of Canada FI now owns 544,178 shares of the investment management company’s stock worth $269,428,000 after purchasing an additional 171,071 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In other news, insider Kathryn H. Ruemmler sold 7,498 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 9,589 shares of the company’s stock, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Carey Halio sold 1,545 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the transaction, the treasurer now owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock valued at $19,692,543 over the last three months. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on GS. Hsbc Global Res cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Morgan Stanley lifted their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $686.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Citigroup lifted their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Barclays increased their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $591.06.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $661.56 on Tuesday. The company has a market capitalization of $205.38 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.91 and a beta of 1.39. The company’s 50-day simple moving average is $605.16 and its two-hundred day simple moving average is $552.61. The Goldman Sachs Group, Inc. has a one year low of $379.14 and a one year high of $663.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 company 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 Goldman Sachs Group’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.48 earnings per share. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 1.81%. The Goldman Sachs Group’s payout ratio is currently 29.59%.

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.