Smithbridge Asset Management Inc. DE Invests $4.76 Million in The Goldman Sachs Group, Inc. (NYSE:GS)

Smithbridge Asset Management Inc. DE purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,720 shares of the investment management company's stock, valued at approximately $4,764,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake 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 The Goldman Sachs Group during the 4th quarter worth approximately $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $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 holdings in shares of The Goldman Sachs Group by 14,007.0% in the 4th quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company's stock valued at $606,815,000 after buying an additional 1,052,204 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Activity

In related news, Director John B. Hess acquired 3,904 shares of the stock in a transaction on Tuesday, April 15th. The shares were acquired at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Up 2.3%

Shares of The Goldman Sachs Group stock traded up $14.09 on Monday, hitting $627.63. The company had a trading volume of 1,767,332 shares, compared to its average volume of 2,370,848. The stock has a market capitalization of $192.58 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 0.89 and a beta of 1.32. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $672.19. The stock has a 50 day moving average of $568.13 and a 200-day moving average of $583.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the prior year, the company posted $11.58 earnings per share. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company cut their price target on The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Barclays reduced their price target on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen downgraded shares of The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Royal Bank of Canada dropped their target price on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.