Parkside Investments LLC Raises Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Parkside Investments LLC increased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 48.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 16,010 shares of the investment management company’s stock after purchasing an additional 5,220 shares during the period. The Goldman Sachs Group comprises 1.3% of Parkside Investments LLC’s investment portfolio, making the stock its 28th largest position. Parkside Investments LLC’s holdings in The Goldman Sachs Group were worth $8,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. Brighton Jones LLC boosted its holdings in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after acquiring an additional 508 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in The Goldman Sachs Group in the fourth quarter worth $32,815,000. Revolve Wealth Partners LLC boosted its holdings in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after acquiring an additional 58 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in The Goldman Sachs Group in the fourth quarter worth $65,000. Finally, Sovran Advisors LLC bought a new stake in The Goldman Sachs Group in the fourth quarter worth $306,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 0.2%

GS stock opened at $625.19 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $672.19. The business’s 50-day moving average is $565.10 and its two-hundred day moving average is $583.47. 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 company has a market cap of $191.83 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 0.89 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The business had revenue of $15.06 billion during 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 posted $11.58 earnings per share. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s payout ratio is 27.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GS shares. Daiwa America downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. JMP Securities lowered their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley set a $558.00 price target on The Goldman Sachs Group and gave the company an “equal weight” rating in a report on Monday, April 7th. Finally, Citigroup lowered their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $593.40.

Insiders Place Their Bets

In related news, Director John B. Hess purchased 3,904 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director now directly owns 3,904 shares in the company, valued at $1,997,598.72. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

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.