The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Increased by Spire Wealth Management

Spire Wealth Management lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 62.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,258 shares of the investment management company’s stock after buying an additional 3,171 shares during the period. Spire Wealth Management’s holdings in The Goldman Sachs Group were worth $4,511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GS. Curio Wealth LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $30,000. Godsey & Gibb Inc. raised its stake in shares of 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 in the last quarter. Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $34,000. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GS. Daiwa Capital Markets lowered The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research report on Friday, April 4th. Wells Fargo & Company cut their target price 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. Wall Street Zen lowered The Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Citigroup cut their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their target price on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $595.67.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director John B. Hess bought 3,904 shares of the stock in a transaction on Tuesday, April 15th. The shares were purchased at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the purchase, the director now directly owns 3,904 shares of the company’s stock, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Up 1.2%

NYSE:GS opened at $669.87 on Thursday. The firm has a market capitalization of $205.54 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.90 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $672.19. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41. The business’s fifty day moving average price is $591.14 and its 200 day moving average price is $585.75.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating analysts’ consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the previous year, the company posted $11.58 earnings per share. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $3.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 1.79%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.85%.

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.