Redmont Wealth Advisors LLC Acquires New Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Redmont Wealth Advisors LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 520 shares of the investment management company’s stock, valued at approximately $201,000.

A number of other large investors have also made changes to their positions in GS. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of The Goldman Sachs Group by 13.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock valued at $64,291,000 after purchasing an additional 20,018 shares in the last quarter. Wealth Alliance raised its position in The Goldman Sachs Group by 17.3% during the fourth quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock valued at $399,000 after buying an additional 153 shares during the period. Trueblood Wealth Management LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $989,000. TBH Global Asset Management LLC boosted its stake in shares of The Goldman Sachs Group by 2.0% during the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock worth $1,190,000 after acquiring an additional 72 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its stake in The Goldman Sachs Group by 27,076.5% during the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after purchasing an additional 650,918 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded up $0.80 during trading hours on Friday, reaching $403.91. 1,802,170 shares of the company’s stock were exchanged, compared to its average volume of 2,361,053. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $419.20. The business has a fifty day moving average of $396.03 and a two-hundred day moving average of $365.61. The company has a market capitalization of $131.08 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.79 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 35.15 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 Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.72%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at $4,357,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the sale, the insider now owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,463 shares in the company, valued at approximately $4,357,659.45. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock worth $13,950,851 in the last three months. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of several recent research reports. Oppenheimer upped their price target on The Goldman Sachs Group from $446.00 to $479.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America increased their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $410.00 to $430.00 in a research report on Thursday, March 14th. JMP Securities raised their price objective on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Finally, Citigroup lifted their price target on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.93.

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.