Sequoia Financial Advisors LLC Boosts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Sequoia Financial Advisors LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 53.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,447 shares of the investment management company’s stock after purchasing an additional 44,240 shares during the period. Sequoia Financial Advisors LLC’s holdings in The Goldman Sachs Group were worth $69,077,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth about $1,643,000. Pure Financial Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 26.3% during the first quarter. Pure Financial Advisors LLC now owns 745 shares of the investment management company’s stock worth $407,000 after purchasing an additional 155 shares during the period. Aspetuck Financial Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth about $609,000. Wealth Effects LLC lifted its holdings in The Goldman Sachs Group by 17.6% in the first quarter. Wealth Effects LLC now owns 481 shares of the investment management company’s stock worth $263,000 after buying an additional 72 shares during the period. Finally, Tyche Wealth Partners LLC lifted its holdings in The Goldman Sachs Group by 1.7% in the first quarter. Tyche Wealth Partners LLC now owns 3,843 shares of the investment management company’s stock worth $2,099,000 after buying an additional 64 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Price Performance

GS stock 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 company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a 50 day moving average price of $591.14 and a 200-day moving average price of $585.75. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same period in the previous year, the business earned $11.58 EPS. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $3.00 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 27.85%.

Insider Buying and Selling

In other news, Director John B. Hess acquired 3,904 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The stock was bought at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the acquisition, the director now directly owns 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GS. Wall Street Zen lowered shares of The Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Royal Bank Of Canada lowered their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, JMP Securities lowered their price objective on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average price target of $595.67.

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.