Novak & Powell Financial Services Inc. Makes New $216,000 Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Novak & Powell Financial Services Inc. purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 4th quarter, Holdings Channel reports. The fund purchased 377 shares of the investment management company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GS. Norges Bank bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $1,603,315,000. Castlekeep Investment Advisors LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $944,334,000. Raymond James Financial Inc. bought a new position in The Goldman Sachs Group in the fourth quarter worth approximately $624,844,000. Proficio Capital Partners LLC lifted its holdings 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 buying an additional 1,052,204 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in 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 valued at $741,018,000 after acquiring an additional 882,099 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the topic of several analyst reports. Morgan Stanley set a $558.00 target price on The Goldman Sachs Group and gave the company an “equal weight” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced 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. Evercore ISI decreased their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Barclays lowered their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup reduced their price objective on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $593.40.

Insider Buying and Selling

In other news, Director John B. Hess purchased 3,904 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Down 1.0%

Shares of GS stock opened at $606.18 on Wednesday. The company has a market cap of $186.00 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.89 and a beta of 1.32. The stock has a 50 day simple moving average of $544.27 and a 200-day simple moving average of $580.66. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $672.19.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the prior year, the company earned $11.58 EPS. On average, 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 business 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 1.98%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

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.