Wallace Capital Management Inc. Raises Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Wallace Capital Management Inc. increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 13.5% in the fourth quarter, HoldingsChannel reports. The firm owned 461 shares of the investment management company’s stock after buying an additional 55 shares during the quarter. Wallace Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $264,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in The Goldman Sachs Group in the 4th quarter worth about $1,603,315,000. Castlekeep Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $944,334,000. Raymond James Financial Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $624,844,000. Proficio Capital Partners LLC increased its position in The Goldman Sachs Group by 14,007.0% during the fourth quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock worth $606,815,000 after purchasing an additional 1,052,204 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of The Goldman Sachs Group by 214.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company’s stock worth $741,018,000 after buying an additional 882,099 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GS shares. Evercore ISI dropped their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Daiwa America lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley set a $558.00 price target on shares of The Goldman Sachs Group and gave the stock an “equal weight” rating in a research report on Monday, April 7th. Wells Fargo & Company lowered their price objective on The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Royal Bank of Canada cut their price objective on The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 15th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $593.40.

The Goldman Sachs Group Trading Down 1.1%

The Goldman Sachs Group stock opened at $611.93 on Tuesday. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $672.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $187.77 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.89 and a beta of 1.32. The firm has a 50-day moving average price of $542.64 and a two-hundred day moving average price of $580.48.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating analysts’ consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the previous year, the company posted $11.58 earnings per share. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 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.