Golden State Wealth Management LLC Boosts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Golden State Wealth Management LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 212.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 988 shares of the investment management company's stock after buying an additional 672 shares during the quarter. Golden State Wealth Management LLC's holdings in The Goldman Sachs Group were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of 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 valued at $3,761,576,000 after buying an additional 161,500 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company's stock valued at $3,524,669,000 after buying an additional 112,696 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of The Goldman Sachs Group by 63,864.7% during 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 buying an additional 3,970,467 shares during the last quarter. FMR LLC lifted its position in The Goldman Sachs Group by 23.7% during the fourth 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 period. Finally, Northern Trust Corp lifted its position in The Goldman Sachs Group by 15.0% during the fourth quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock valued at $1,885,454,000 after purchasing an additional 428,502 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JMP Securities lowered their price objective on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI lowered their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Citigroup lowered their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company lowered their price objective 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. Finally, Oppenheimer downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and a consensus target price of $595.67.

Insider Activity

In related news, Director John B. Hess bought 3,904 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was bought at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the purchase, the director now owns 3,904 shares of the company's stock, valued at approximately $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 2.8%

GS opened at $688.34 on Friday. The company has a market capitalization of $211.21 billion, a PE ratio of 15.97, a PEG ratio of 0.91 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $689.33. The firm's 50 day simple moving average is $594.71 and its two-hundred day simple moving average is $586.40. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data 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 firm 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 11.86% and a return on equity of 13.76%. During the same period last year, the firm earned $11.58 EPS. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.74%. The Goldman Sachs Group's payout ratio is 27.85%.

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.

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