Resona Asset Management Co. Ltd. Purchases New Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Resona Asset Management Co. Ltd. acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 91,732 shares of the investment management company’s stock, valued at approximately $52,574,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Stephens Consulting LLC purchased a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $34,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 8.1 %

Shares of The Goldman Sachs Group stock opened at $469.57 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $387.12 and a 52-week high of $672.19. The firm has a market capitalization of $146.52 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $597.54 and its two-hundred day moving average price is $572.76.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.32% and a return on equity of 13.30%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.48 earnings per share. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.56%. The Goldman Sachs Group’s payout ratio is presently 29.59%.

Insider Buying and Selling

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 3,640 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $636.74, for a total value of $2,317,733.60. Following the transaction, the treasurer now directly owns 4,552 shares in the company, valued at $2,898,440.48. The trade was a 44.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin R. Johnson acquired 2,400 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the acquisition, the director now owns 2,400 shares of the company’s stock, valued at approximately $1,485,648. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 in the last 90 days. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on GS shares. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Oppenheimer cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Barclays increased their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI decreased their target price on The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $589.19.

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.