Wealth Effects LLC Purchases 72 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Wealth Effects LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 481 shares of the investment management company’s stock after purchasing an additional 72 shares during the quarter. Wealth Effects LLC’s holdings in The Goldman Sachs Group were worth $263,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Tyche Wealth Partners LLC increased its holdings in The Goldman Sachs Group by 1.7% during the 1st quarter. Tyche Wealth Partners LLC now owns 3,843 shares of the investment management company’s stock valued at $2,099,000 after purchasing an additional 64 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,862,000. Financial Life Planners increased its stake in shares of The Goldman Sachs Group by 1,608.3% during the first quarter. Financial Life Planners now owns 410 shares of the investment management company’s stock valued at $224,000 after buying an additional 386 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 212.7% during the first quarter. Golden State Wealth Management LLC now owns 988 shares of the investment management company’s stock valued at $540,000 after acquiring an additional 672 shares in the last quarter. Finally, Aurora Private Wealth Inc. purchased a new stake in The Goldman Sachs Group in the first quarter worth $9,603,000. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GS shares. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research report on Friday, April 4th. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $570.00 to $592.00 and gave the company an “equal weight” rating in a research report on Monday. 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. Citigroup cut their price objective 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, Wells Fargo & Company decreased their target price on The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $595.67.

Insider Activity at The Goldman Sachs Group

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

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $669.87 on Thursday. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $672.19. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $205.54 billion, a P/E ratio of 15.55, a PEG ratio of 0.90 and a beta of 1.32. The stock’s 50 day moving average is $591.14 and its 200 day moving average is $585.75.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping the consensus estimate 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 business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the previous year, the company posted $11.58 earnings per share. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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