Summit Securities Group LLC Takes Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Summit Securities Group LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 14,600 shares of the investment management company’s stock, valued at approximately $8,360,000. The Goldman Sachs Group makes up 1.7% of Summit Securities Group LLC’s portfolio, making the stock its 7th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in GS. Asset Management One Co. Ltd. grew its stake in shares of The Goldman Sachs Group by 2.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock worth $129,144,000 after purchasing an additional 5,541 shares during the last quarter. Erste Asset Management GmbH lifted its holdings in 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 period. Franklin Street Advisors Inc. NC grew its position in shares of The Goldman Sachs Group by 8.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after buying an additional 2,863 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $356,000. Finally, Park Edge Advisors LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $703,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 2.8 %

GS opened at $543.04 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $387.12 and a fifty-two week 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 company’s 50-day moving average is $608.15 and its 200 day moving average is $571.66. The firm has a market capitalization of $169.45 billion, a P/E ratio of 13.39, a PEG ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the prior year, the company earned $5.48 EPS. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. Research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 28th. The Goldman Sachs Group’s payout ratio is currently 29.59%.

Insider Activity at The Goldman Sachs Group

In other news, Director Kevin R. Johnson purchased 2,400 shares of the business’s stock in a transaction on Friday, January 17th. The shares were acquired at an average price of $619.02 per share, with a total value of $1,485,648.00. Following the acquisition, the director now directly owns 2,400 shares in the company, valued at approximately $1,485,648. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Treasurer Carey Halio sold 3,640 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $636.74, for a total transaction of $2,317,733.60. Following the sale, the treasurer now owns 4,552 shares of the company’s stock, valued at approximately $2,898,440.48. This represents a 44.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,925 shares of company stock valued at $12,630,683. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their target price on shares of The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley cut their price target on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Oppenheimer lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $590.60.

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.