NewEdge Wealth LLC Has $5.92 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

NewEdge Wealth LLC grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 16.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,330 shares of the investment management company’s stock after acquiring an additional 1,465 shares during the period. NewEdge Wealth LLC’s holdings in The Goldman Sachs Group were worth $5,915,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pointe Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 1.0% in the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock valued at $951,000 after buying an additional 16 shares in the last quarter. Sabal Trust CO increased its position in shares of The Goldman Sachs Group by 87.0% during the 4th quarter. Sabal Trust CO now owns 2,708 shares of the investment management company’s stock worth $1,551,000 after purchasing an additional 1,260 shares in the last quarter. Advisor OS LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $257,000. DMKC Advisory Services LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $2,458,000. Finally, NCP Inc. increased its position in shares of The Goldman Sachs Group by 7.7% during the 4th quarter. NCP Inc. now owns 1,400 shares of the investment management company’s stock worth $802,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $607.99 on Friday. The company has a market capitalization of $189.72 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The Goldman Sachs Group, Inc. has a 12-month low of $381.42 and a 12-month high of $672.19. The firm’s 50 day moving average is $615.62 and its 200-day moving average is $561.52. 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 (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The business 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 for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.48 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 1.97%. The Goldman Sachs Group’s payout ratio is 29.59%.

Insider Buying and Selling

In related news, Director Kevin R. Johnson acquired 2,400 shares of The Goldman Sachs Group stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the completion of the transaction, the director now directly owns 2,400 shares in the company, valued at $1,485,648. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total transaction of $965,115.15. Following the transaction, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,925 shares of company stock worth $12,630,683. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Barclays raised their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group raised their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus target price of $591.69.

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.