49 Wealth Management LLC Has $839,000 Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

49 Wealth Management LLC grew its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 41.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,536 shares of the investment management company’s stock after acquiring an additional 450 shares during the quarter. 49 Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $839,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. Norges Bank acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $1,603,315,000. Castlekeep Investment Advisors LLC bought a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $944,334,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Goldman Sachs Group by 214.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company’s stock valued at $741,018,000 after acquiring an additional 882,099 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GS. Evercore ISI boosted their target price on The Goldman Sachs Group from $630.00 to $715.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded The Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Citigroup reduced their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Finally, Daiwa America lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $605.00.

Insider Buying and Selling

In related news, Director John B. Hess bought 3,904 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was purchased at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the transaction, the director owned 3,904 shares in the company, valued at $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Down 1.8%

GS stock opened at $710.58 on Tuesday. The business’s fifty day moving average price is $620.36 and its two-hundred day moving average price is $593.17. The stock has a market capitalization of $218.03 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.99 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $726.00. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the previous year, the company earned $11.58 EPS. On average, equities analysts anticipate 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 was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 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.