Concord Wealth Partners Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Concord Wealth Partners raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,746 shares of the investment management company’s stock after acquiring an additional 578 shares during the quarter. Concord Wealth Partners’ holdings in The Goldman Sachs Group were worth $2,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. West Branch Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the third quarter worth $30,000. DT Investment Partners LLC increased its stake in The Goldman Sachs Group by 110.0% in the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after acquiring an additional 33 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at about $34,000. Country Trust Bank purchased a new position in shares of The Goldman Sachs Group during the third quarter worth about $37,000. Finally, Capital Performance Advisors LLP bought a new stake in The Goldman Sachs Group during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the transaction, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,865 shares of company stock worth $25,286,862 in the last 90 days. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GS. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley upped their target price on The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $591.06.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $640.15 on Friday. 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, Inc. has a 1 year low of $375.20 and a 1 year high of $650.00. The company’s 50-day moving average is $596.07 and its 200 day moving average is $541.17. The stock has a market capitalization of $198.73 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.89 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the prior year, the company earned $5.48 earnings per share. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.1 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.87%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

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.