Fmr LLC Increases Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Fmr LLC lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 23.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,586,348 shares of the investment management company’s stock after buying an additional 687,711 shares during the quarter. Fmr LLC’s holdings in The Goldman Sachs Group were worth $2,053,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $1,603,315,000. Raymond James Financial Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $624,844,000. Proficio Capital Partners LLC boosted its holdings in The Goldman Sachs Group by 14,007.0% during the fourth quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock worth $606,815,000 after buying an additional 1,052,204 shares in the last quarter. Ieq Capital LLC grew its position in The Goldman Sachs Group by 1,400.8% during the fourth quarter. Ieq Capital LLC now owns 419,095 shares of the investment management company’s stock worth $239,982,000 after buying an additional 391,170 shares during the period. Finally, Geode Capital Management LLC increased its holdings in The Goldman Sachs Group by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock valued at $3,761,576,000 after buying an additional 161,500 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GS has been the subject of several research analyst reports. Daiwa Capital Markets downgraded The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley lowered their price target on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Finally, UBS Group increased their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and a consensus target price of $589.19.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 1,545 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total transaction of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin R. Johnson purchased 2,400 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was bought at an average price of $619.02 per share, with a total value of $1,485,648.00. Following the acquisition, the director now owns 2,400 shares in the company, valued at $1,485,648. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 19,925 shares of company stock valued at $12,630,683 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $469.57 on Monday. 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 market cap of $146.52 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.89 and a beta of 1.33. 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 50 day moving average price of $597.54 and a 200 day moving average price of $573.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 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 period in the prior year, the firm posted $5.48 EPS. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Friday, February 28th. The Goldman Sachs Group’s payout ratio is currently 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.