Ingalls & Snyder LLC Lowers Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Ingalls & Snyder LLC reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.3% in the fourth quarter, HoldingsChannel reports. The fund owned 36,483 shares of the investment management company’s stock after selling 3,727 shares during the period. The Goldman Sachs Group accounts for 0.8% of Ingalls & Snyder LLC’s portfolio, making the stock its 28th biggest holding. Ingalls & Snyder LLC’s holdings in The Goldman Sachs Group were worth $20,891,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Castle Wealth Management LLC lifted its position in The Goldman Sachs Group by 42.7% during the 4th quarter. Castle Wealth Management LLC now owns 1,943 shares of the investment management company’s stock valued at $1,113,000 after acquiring an additional 581 shares during the period. Raab & Moskowitz Asset Management LLC lifted its position in The Goldman Sachs Group by 81.6% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 2,001 shares of the investment management company’s stock valued at $1,146,000 after acquiring an additional 899 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in The Goldman Sachs Group during the 4th quarter valued at about $5,410,000. Van ECK Associates Corp lifted its position in The Goldman Sachs Group by 2.6% during the 4th quarter. Van ECK Associates Corp now owns 6,320 shares of the investment management company’s stock valued at $3,619,000 after acquiring an additional 163 shares during the period. Finally, MontVue Capital Management Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter valued at about $277,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now directly owns 6,455 shares in the company, valued at approximately $4,047,349.55. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $19,692,543 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GS shares. Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer decreased their target price on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. UBS Group upped their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Finally, Citigroup upped their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $591.06.

The Goldman Sachs Group Price Performance

GS stock opened at $649.17 on Thursday. The Goldman Sachs Group, Inc. has a one year low of $375.20 and a one year high of $663.87. The company’s fifty day moving average price is $601.88 and its 200-day moving average price is $549.42. 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 capitalization of $201.53 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last released 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 firm had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the previous year, the firm earned $5.48 earnings per share. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend 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.