Inscription Capital LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,249 shares of the investment management company's stock, valued at approximately $4,506,000. The Goldman Sachs Group makes up about 0.7% of Inscription Capital LLC's holdings, making the stock its 26th biggest position.
Several other institutional investors and hedge funds also recently made changes to their positions in GS. GAMMA Investing LLC grew its position in The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares in the last quarter. Norges Bank acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $944,334,000. Raymond James Financial Inc. bought a new stake in The Goldman Sachs Group during the fourth quarter worth about $624,844,000. Finally, Proficio Capital Partners LLC boosted its position 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 valued at $606,815,000 after purchasing an additional 1,052,204 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.
Wall Street Analyst Weigh In
GS has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Oppenheimer lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. Citigroup cut their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $593.40.
Get Our Latest Research Report on The Goldman Sachs Group
Insider Buying and Selling at The Goldman Sachs Group
In related news, Director John B. Hess purchased 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, with a total value of $1,997,598.72. Following the acquisition, the director now owns 3,904 shares of the company's stock, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company's stock.
The Goldman Sachs Group Stock Up 2.3%
GS stock opened at $627.63 on Tuesday. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $672.19. The business has a 50-day simple moving average of $571.45 and a 200 day simple moving average of $583.34. 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 company has a market cap of $192.58 billion, a PE ratio of 15.48, 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 issued its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. During the same period in the previous year, the company earned $11.58 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.
The Goldman Sachs Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's payout ratio is presently 27.85%.
The Goldman Sachs Group Profile
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Free Report)
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.
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