City Center Advisors LLC Acquires 34 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

City Center Advisors LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 824 shares of the investment management company’s stock after purchasing an additional 34 shares during the period. City Center Advisors LLC’s holdings in The Goldman Sachs Group were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Curio Wealth LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $30,000. Godsey & Gibb Inc. increased its position in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after buying an additional 34 shares during the period. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $31,000. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GS shares. Morgan Stanley set a $558.00 price objective on The Goldman Sachs Group and gave the company an “equal weight” rating in a research report on Monday, April 7th. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. Barclays lowered their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Daiwa America cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company lowered their price objective on The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Thirteen 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, the stock presently has a consensus rating of “Hold” and an average target price of $593.40.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess purchased 3,904 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $614.49 on Friday. The stock’s fifty day moving average is $555.71 and its 200-day moving average is $582.83. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $188.55 billion, a PE ratio of 15.15, a PEG ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $11.58 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 1.95%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group’s payout ratio is presently 27.85%.

The Goldman Sachs Group Company 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.