Prosperity Wealth Management Inc. Purchases New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

Prosperity Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,164 shares of the investment management company's stock, valued at approximately $1,728,000. The Goldman Sachs Group makes up about 0.8% of Prosperity Wealth Management Inc.'s investment portfolio, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. Pointe Capital Management LLC grew its position in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company's stock valued at $951,000 after purchasing an additional 16 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its stake in shares of The Goldman Sachs Group by 2.1% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 831 shares of the investment management company's stock valued at $476,000 after buying an additional 17 shares during the period. Delta Financial Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 6,861 shares of the investment management company's stock valued at $3,929,000 after buying an additional 18 shares during the period. Prestige Wealth Management Group LLC boosted its stake in shares of The Goldman Sachs Group by 1.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company's stock valued at $950,000 after buying an additional 18 shares during the period. Finally, Wynn Capital LLC boosted its stake in shares of The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after buying an additional 20 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GS shares. Morgan Stanley set a $558.00 price target on The Goldman Sachs Group and gave the company an "equal weight" rating in a research note on Monday, April 7th. Keefe, Bruyette & Woods cut 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. Citigroup cut their price target on 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. Daiwa Capital Markets cut The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target for the company. in a research note on Friday, April 4th. Finally, Wall Street Zen cut The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $593.40.

Insider Activity

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

The Goldman Sachs Group Stock Down 0.6%

Shares of GS opened at $624.30 on Wednesday. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $672.19. The stock has a market capitalization of $191.56 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.85 and a beta of 1.32. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a fifty day moving average of $573.58 and a 200-day moving average of $583.63.

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 EPS for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The company had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. During the same period in the prior year, the company earned $11.58 EPS. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, May 30th. 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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