Topsail Wealth Management LLC Invests $268,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Topsail Wealth Management LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 468 shares of the investment management company's stock, valued at approximately $268,000.

Several other hedge funds have also recently bought and sold shares of GS. Morse Asset Management Inc acquired a new position in shares of The Goldman Sachs Group in the third quarter valued at approximately $911,000. SkyView Investment Advisors LLC lifted its position in shares of The Goldman Sachs Group by 8.8% during the third quarter. SkyView Investment Advisors LLC now owns 3,553 shares of the investment management company's stock worth $1,759,000 after purchasing an additional 286 shares in the last quarter. Chelsea Counsel Co. raised its holdings in The Goldman Sachs Group by 400.0% in the third quarter. Chelsea Counsel Co. now owns 375 shares of the investment management company's stock valued at $186,000 after acquiring an additional 300 shares in the last quarter. Tudor Financial Inc. acquired a new position in The Goldman Sachs Group in the third quarter valued at approximately $228,000. Finally, Anchor Investment Management LLC boosted its position in shares of The Goldman Sachs Group by 29.1% during the third quarter. Anchor Investment Management LLC now owns 4,230 shares of the investment management company's stock worth $2,094,000 after buying an additional 953 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Down 0.1 %

Shares of GS stock traded down $0.48 during trading hours on Tuesday, reaching $545.92. 688,066 shares of the stock were exchanged, compared to its average volume of 2,363,070. The firm has a market capitalization of $170.35 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group, Inc. has a 12-month low of $425.19 and a 12-month high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business's fifty day moving average is $546.52 and its two-hundred day moving average is $574.64.

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

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Oppenheimer cut shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. Royal Bank of Canada reduced their price objective on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Morgan Stanley set a $558.00 price target on shares of The Goldman Sachs Group and gave the company an "equal weight" rating in a research note on Monday, April 7th. Finally, JMP Securities lowered their target price on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $593.40.

Insiders Place Their Bets

In related news, Director John B. Hess purchased 3,904 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were acquired 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 $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

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.