Perkins Coie Trust Co Purchases New Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Perkins Coie Trust Co purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 122 shares of the investment management company’s stock, valued at approximately $67,000.

A number of other large investors have also made changes to their positions in GS. Ledyard National Bank grew its holdings in shares of The Goldman Sachs Group by 3.4% during the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock worth $278,000 after buying an additional 16 shares during the last quarter. Seelaus Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.5% during the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock worth $378,000 after buying an additional 16 shares during the last quarter. Pointe Capital Management LLC grew its holdings in shares of The Goldman Sachs Group by 1.0% during the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after buying an additional 16 shares during the last quarter. Blackston Financial Advisory Group LLC grew its holdings in shares of The Goldman Sachs Group by 2.1% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 831 shares of the investment management company’s stock worth $476,000 after buying an additional 17 shares during the last quarter. Finally, Morris Financial Concepts Inc. lifted its position in The Goldman Sachs Group by 3.5% in the fourth quarter. Morris Financial Concepts Inc. now owns 536 shares of the investment management company’s stock valued at $307,000 after purchasing an additional 18 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John B. Hess purchased 3,904 shares of the stock in a transaction on Tuesday, April 15th. The stock was purchased at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $614.49 on Friday. The stock has a fifty day moving average price of $555.71 and a 200 day moving average price of $582.82. The stock has a market cap of $188.55 billion, a PE ratio of 15.15, a P/E/G ratio of 0.89 and a beta of 1.32. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $672.19. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

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, topping 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 during the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the previous year, the firm posted $11.58 earnings per share. Sell-side analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 27.85%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GS shares. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Barclays reduced 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 report on Tuesday, April 15th. Morgan Stanley set a $558.00 price objective on shares of The Goldman Sachs Group and gave the company an “equal weight” rating in a research report on Monday, April 7th. 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 for the company. in a research report on Friday, April 4th. Finally, Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $593.40.

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.