Weik Capital Management Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Weik Capital Management cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,875 shares of the investment management company’s stock after selling 30 shares during the period. Weik Capital Management’s holdings in The Goldman Sachs Group were worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in shares of The Goldman Sachs Group by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock worth $129,144,000 after buying an additional 5,541 shares during the last quarter. Erste Asset Management GmbH increased its stake in The Goldman Sachs Group by 5.9% during the fourth quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock worth $3,309,000 after acquiring an additional 320 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after purchasing an additional 2,863 shares during the period. Atlas Legacy Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $356,000. Finally, Park Edge Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $703,000. 71.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GS has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group increased their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Wells Fargo & Company reaffirmed an “overweight” rating on shares of The Goldman Sachs Group in a research note on Friday, February 28th. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Barclays boosted their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $593.27.

Insider Activity

In other news, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. This represents a 23.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now owns 9,589 shares in the company, valued at approximately $6,086,042.41. This trade represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,925 shares of company stock worth $12,630,683. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS opened at $559.47 on Friday. 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 company has a 50 day moving average price of $609.83 and a 200-day moving average price of $570.55. The Goldman Sachs Group, Inc. has a fifty-two week low of $387.12 and a fifty-two week high of $672.19. The stock has a market capitalization of $174.58 billion, a PE ratio of 13.80, a PEG ratio of 0.89 and a beta of 1.37.

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, beating the consensus estimate of $8.21 by $3.74. The business 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 business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.48 EPS. Equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.14%. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

About The Goldman Sachs Group

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.