Elk River Wealth Management LLC Makes New $2.77 Million Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Elk River Wealth Management LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,073 shares of the investment management company's stock, valued at approximately $2,771,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its stake in The Goldman Sachs Group by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company's stock worth $3,761,576,000 after buying an additional 161,500 shares during the last quarter. Fisher Asset Management LLC grew its position in The Goldman Sachs Group by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company's stock worth $3,524,669,000 after acquiring an additional 112,696 shares during the last quarter. GAMMA Investing LLC increased its holdings in The Goldman Sachs Group by 63,864.7% during the 1st 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. FMR LLC raised its position in The Goldman Sachs Group by 23.7% in the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company's stock valued at $2,053,614,000 after purchasing an additional 687,711 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in The Goldman Sachs Group by 15.0% in the fourth quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock worth $1,885,454,000 after purchasing an additional 428,502 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 1.4%

NYSE:GS opened at $614.49 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $672.19. The firm has a market capitalization of $188.55 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.89 and a beta of 1.32. The business's 50-day moving average price is $555.71 and its two-hundred day moving average price is $582.82.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate 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 last year, the company posted $11.58 EPS. On average, equities analysts expect 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 declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.95%. The Goldman Sachs Group's dividend payout ratio is 27.85%.

Insider Activity

In other The Goldman Sachs Group news, Director John B. Hess bought 3,904 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the purchase, the director now owns 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on GS shares. Royal Bank of Canada cut their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped 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 note on Thursday, April 3rd. Wells Fargo & Company reduced their target price on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Evercore ISI lowered their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Finally, Morgan Stanley set a $558.00 price objective on The Goldman Sachs Group and gave the stock an "equal weight" rating in a report on Monday, April 7th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $593.40.

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.

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