BNC Wealth Management LLC Acquires Shares of 2,793 The Goldman Sachs Group, Inc. (NYSE:GS)

BNC Wealth Management LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,793 shares of the investment management company's stock, valued at approximately $1,526,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Brighton Jones LLC boosted its stake in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $32,815,000. Revolve Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $65,000. Finally, Van ECK Associates Corp boosted its stake 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 purchasing an additional 163 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE:GS traded down $12.04 during mid-day trading on Friday, hitting $613.07. 1,674,605 shares of the company traded hands, compared to its average volume of 2,373,273. The stock's fifty day moving average price is $568.13 and its 200-day moving average price is $583.37. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $672.19. 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 firm has a market cap of $188.12 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the previous year, the company posted $11.58 earnings per share. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.96%. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

Analysts Set New Price Targets

Several analysts have commented on GS shares. Wells Fargo & Company cut their target price on The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their target price for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Wall Street Zen downgraded The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday. Evercore ISI dropped their price target on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Finally, Citigroup dropped their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and a consensus target price of $593.40.

Insider Buying and Selling

In other news, Director John B. Hess bought 3,904 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director now owns 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by company insiders.

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.