KLP Kapitalforvaltning AS Makes New $77.51 Million Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

KLP Kapitalforvaltning AS purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 135,363 shares of the investment management company’s stock, valued at approximately $77,512,000.

Other hedge funds have also modified their holdings of the company. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $30,000. Truvestments Capital LLC purchased a new position in The Goldman Sachs Group in the 3rd quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in The Goldman Sachs Group during the fourth quarter worth $34,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GS. Barclays raised their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley dropped their price target on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of The Goldman Sachs Group in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $594.27.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the transaction, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. This represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 $5,117,296.64. This trade 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 19,925 shares of company stock valued at $12,630,683 over the last three months. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Stock Up 0.4 %

Shares of NYSE GS opened at $565.00 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $387.12 and a 1 year high of $672.19. The firm has a market cap of $176.30 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50-day simple moving average is $610.89 and its 200-day simple moving average is $568.09.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results 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 for the quarter, compared to analyst estimates of $12.36 billion. During the same period in the previous year, the company earned $5.48 earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s payout ratio is 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.