Modern Wealth Management LLC Purchases Shares of 940 The Goldman Sachs Group, Inc. (NYSE:GS)

Modern Wealth Management LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, Holdings Channel.com reports. The firm bought 940 shares of the investment management company’s stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stephens Consulting LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $26,000. Asset Planning Inc acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $29,000. Curio Wealth LLC bought a new stake in The Goldman Sachs Group during the fourth quarter valued at $30,000. Truvestments Capital LLC acquired a new stake in The Goldman Sachs Group during the 3rd quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth about $34,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now directly owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin R. Johnson acquired 2,400 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the purchase, the director now owns 2,400 shares in the company, valued at $1,485,648. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 19,925 shares of company stock worth $12,630,683 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GS. Citigroup dropped their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday. 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. UBS Group raised their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of The Goldman Sachs Group in a research report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $593.27.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $559.47 on Friday. The stock has a market cap of $174.58 billion, a P/E ratio of 13.80, a P/E/G 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 company’s 50 day moving average price is $609.83 and its two-hundred day moving average price is $570.55. The Goldman Sachs Group, Inc. has a 52 week low of $387.12 and a 52 week high of $672.19.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.48 earnings per share. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced 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. This represents a $12.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

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.