Castle Wealth Management LLC Grows Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Castle Wealth Management LLC increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 42.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,943 shares of the investment management company’s stock after acquiring an additional 581 shares during the quarter. Castle Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $1,113,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stephens Consulting LLC bought a new position in The Goldman Sachs Group in the fourth quarter worth about $26,000. West Branch Capital LLC bought a new position in The Goldman Sachs Group in the third quarter worth about $30,000. DT Investment Partners LLC raised its holdings in The Goldman Sachs Group by 110.0% in the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Truvestments Capital LLC bought a new position in The Goldman Sachs Group in the third quarter worth about $34,000. Finally, Capital Performance Advisors LLP bought a new position in The Goldman Sachs Group in the third quarter worth about $38,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO David M. Solomon sold 6,550 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the transaction, the chief executive officer now owns 117,883 shares in the company, valued at $72,015,903.53. This trade represents a 5.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now owns 9,589 shares in the company, valued at $6,086,042.41. This trade represents a 43.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,475 shares of company stock worth $19,692,543. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 0.3 %

The Goldman Sachs Group stock opened at $649.17 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12 month low of $375.20 and a 12 month high of $663.87. The stock’s 50 day simple moving average is $601.88 and its two-hundred day simple moving average is $549.42. The firm has a market cap of $201.53 billion, a PE ratio of 16.01, a P/E/G ratio of 0.91 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the prior year, the firm posted $5.48 EPS. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 annualized dividend and a yield of 1.85%. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GS shares. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, Morgan Stanley upped their price objective on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $591.06.

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.