Hoey Investments Inc. Raises Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Hoey Investments Inc. increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 224.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,054 shares of the investment management company’s stock after acquiring an additional 6,263 shares during the quarter. The Goldman Sachs Group makes up about 0.9% of Hoey Investments Inc.’s portfolio, making the stock its 12th biggest holding. Hoey Investments Inc.’s holdings in The Goldman Sachs Group were worth $5,185,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in shares of The Goldman Sachs Group by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,087,594 shares of the investment management company’s stock worth $1,195,398,000 after purchasing an additional 33,000 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in The Goldman Sachs Group in the 4th quarter worth about $60,000. Bedell Frazier Investment Counselling LLC increased its stake in The Goldman Sachs Group by 10.8% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 2,790 shares of the investment management company’s stock worth $1,598,000 after buying an additional 273 shares in the last quarter. AIA Group Ltd raised its holdings in shares of The Goldman Sachs Group by 2.3% during the fourth quarter. AIA Group Ltd now owns 7,863 shares of the investment management company’s stock valued at $4,503,000 after acquiring an additional 175 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of The Goldman Sachs Group by 19.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 925 shares of the investment management company’s stock valued at $528,000 after acquiring an additional 150 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Citigroup decreased their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Barclays upped their price objective on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company cut their price objective on shares of The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $590.60.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $543.04 on Monday. The firm has a market cap of $169.45 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 52 week low of $387.12 and a 52 week high of $672.19. The business’s fifty day simple moving average is $608.15 and its 200-day simple moving average is $572.36.

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

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 5,208 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. The trade was a 59.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $4,758,905.62. Following the completion of the sale, the insider now directly owns 9,589 shares in the company, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,925 shares of company stock valued at $12,630,683. 0.55% of the stock is currently owned by company insiders.

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.