Convergence Financial LLC Acquires 42 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Convergence Financial LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,163 shares of the investment management company’s stock after acquiring an additional 42 shares during the period. Convergence Financial LLC’s holdings in The Goldman Sachs Group were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities USA LLC raised its position in shares of The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the period. FMR LLC raised its holdings in The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after acquiring an additional 521,054 shares during the period. Ieq Capital LLC lifted its position in shares of The Goldman Sachs Group by 1,400.8% in the fourth quarter. Ieq Capital LLC now owns 419,095 shares of the investment management company’s stock valued at $239,982,000 after acquiring an additional 391,170 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock worth $205,403,000 after acquiring an additional 251,972 shares during the period. Finally, Congress Asset Management Co. grew its position in shares of The Goldman Sachs Group by 829.0% during the third quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock worth $128,886,000 after purchasing an additional 232,297 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 0.5 %

GS stock opened at $618.04 on Thursday. The firm’s fifty day simple moving average is $614.54 and its two-hundred day simple moving average is $561.19. The stock has a market capitalization of $192.85 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a twelve month low of $381.42 and a twelve month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.48 EPS. As a group, analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date is Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 1.94%. The Goldman Sachs Group’s payout ratio is 29.59%.

Wall Street Analyst Weigh In

GS has been the topic of a number of research analyst reports. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Oppenheimer lowered their target price on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Barclays boosted their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Citigroup raised their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $593.56.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Alex S. Golten sold 5,208 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the sale, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,475 shares of company stock valued at $19,692,543. Insiders own 0.57% of the company’s stock.

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.