Mechanics Financial Corp Invests $82,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Mechanics Financial Corp bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the fourth quarter, HoldingsChannel.com reports. The fund bought 143 shares of the investment management company’s stock, valued at approximately $82,000.

Several other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of The Goldman Sachs Group in the third quarter valued at about $206,000. Townsquare Capital LLC grew its stake in The Goldman Sachs Group by 30.7% in the third quarter. Townsquare Capital LLC now owns 7,135 shares of the investment management company’s stock valued at $3,533,000 after purchasing an additional 1,675 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of The Goldman Sachs Group by 30.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,365 shares of the investment management company’s stock worth $2,161,000 after purchasing an additional 1,020 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of The Goldman Sachs Group by 1.1% during the 3rd quarter. Financial Counselors Inc. now owns 2,485 shares of the investment management company’s stock worth $1,230,000 after purchasing an additional 27 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of The Goldman Sachs Group by 1,240.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,771 shares of the investment management company’s stock valued at $2,362,000 after buying an additional 4,415 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 2.8 %

GS stock opened at $543.04 on Friday. The Goldman Sachs Group, Inc. has a 52 week low of $387.12 and a 52 week high of $672.19. 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’s 50-day simple moving average is $608.15 and its 200 day simple moving average is $570.93. The company has a market capitalization of $169.45 billion, a PE ratio of 13.39, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the firm earned $5.48 earnings per share. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were issued a $3.00 dividend. The ex-dividend date was Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Insider Activity

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,498 shares of the business’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 transaction of $4,758,905.62. Following the completion of the transaction, the insider now directly owns 9,589 shares in the company, valued at $6,086,042.41. The trade was a 43.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares in the company, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,925 shares of company stock worth $12,630,683. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group increased their price target 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. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Barclays boosted 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. Wells Fargo & Company cut their price objective on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $605.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $590.60.

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.