Groesbeck Investment Management Corp NJ Sells 396 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Groesbeck Investment Management Corp NJ cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 13.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,575 shares of the investment management company’s stock after selling 396 shares during the quarter. The Goldman Sachs Group comprises approximately 1.9% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 16th largest holding. Groesbeck Investment Management Corp NJ’s holdings in The Goldman Sachs Group were worth $1,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Genesee Capital Advisors LLC lifted its holdings in The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after buying an additional 17 shares during the period. Horst & Graben Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 1.5% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 1,179 shares of the investment management company’s stock valued at $675,000 after purchasing an additional 17 shares during the period. Waddell & Associates LLC lifted its stake in shares of The Goldman Sachs Group by 2.1% in the 3rd quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock valued at $444,000 after purchasing an additional 18 shares during the period. Wescott Financial Advisory Group LLC lifted its stake in shares of The Goldman Sachs Group by 0.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock valued at $1,346,000 after purchasing an additional 18 shares during the period. Finally, Bank of New Hampshire lifted its stake in shares of The Goldman Sachs Group by 8.0% in the 4th quarter. Bank of New Hampshire now owns 243 shares of the investment management company’s stock valued at $139,000 after purchasing an additional 18 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Treasurer Carey Halio sold 3,640 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $636.74, for a total value of $2,317,733.60. Following the completion of the transaction, the treasurer now directly owns 4,552 shares of the company’s stock, valued at $2,898,440.48. This trade represents a 44.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now directly owns 3,545 shares of the company’s stock, valued at $2,255,506.25. The trade was a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $19,692,543 over the last ninety days. 0.57% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

GS stock opened at $634.48 on Wednesday. The firm has a market cap of $196.97 billion, a PE ratio of 15.65, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The business has a 50 day moving average of $596.65 and a 200-day moving average of $542.74. The Goldman Sachs Group, Inc. has a 12-month low of $375.20 and a 12-month high of $650.00.

The Goldman Sachs Group (NYSE:GS) last released 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 company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.48 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $686.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Oppenheimer dropped their price target on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Evercore ISI upped their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $591.06.

The Goldman Sachs Group 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.