Sowell Financial Services LLC Purchases New Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Sowell Financial Services LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,621 shares of the investment management company's stock, valued at approximately $3,071,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its position in The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock valued at $594,412,000 after purchasing an additional 138,198 shares in the last quarter. Baxter Bros Inc. raised its holdings in shares of The Goldman Sachs Group by 1.0% during the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company's stock worth $8,879,000 after buying an additional 151 shares in the last quarter. Erste Asset Management GmbH lifted its position in shares of The Goldman Sachs Group by 5.9% during the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company's stock worth $3,309,000 after buying an additional 320 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at about $356,000. Finally, Fidelis Capital Partners LLC grew its position in The Goldman Sachs Group by 65.7% in the fourth quarter. Fidelis Capital Partners LLC now owns 7,418 shares of the investment management company's stock valued at $4,691,000 after acquiring an additional 2,942 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John B. Hess acquired 3,904 shares of the stock in a transaction dated Tuesday, April 15th. The stock was bought at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares of the company's stock, valued at $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Up 2.3%

The Goldman Sachs Group stock opened at $627.63 on Tuesday. The firm has a market cap of $192.58 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $672.19. 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 firm has a 50 day moving average price of $571.45 and a two-hundred day moving average price of $583.34.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping 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 prior year, the company posted $11.58 earnings per share. Equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed 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 1.91%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is 27.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GS shares. 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 note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. 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. Morgan Stanley set a $558.00 price objective on The Goldman Sachs Group and gave the company an "equal weight" rating in a report on Monday, April 7th. Finally, Daiwa Capital Markets lowered The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective on the stock. in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $593.40.

About The Goldman Sachs Group

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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