Castle Wealth Management LLC Increases Stock 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% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,943 shares of the investment management company’s stock after buying an additional 581 shares during the quarter. Castle Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $1,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $26,000. West Branch Capital LLC bought a new stake in The Goldman Sachs Group during the 3rd quarter worth approximately $30,000. DT Investment Partners LLC raised its stake in The Goldman Sachs Group by 110.0% during the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after acquiring an additional 33 shares during the period. Truvestments Capital LLC bought a new stake in The Goldman Sachs Group during the 3rd quarter worth approximately $34,000. Finally, Capital Performance Advisors LLP bought a new stake in The Goldman Sachs Group during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In other news, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at approximately $72,015,903.53. The trade was a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,475 shares of company stock valued at $19,692,543. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GS has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Citigroup raised their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Barclays raised their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $591.06.

The Goldman Sachs Group Stock Up 0.3 %

NYSE GS opened at $649.17 on Thursday. 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 has a fifty day moving average of $601.88 and a two-hundred day moving average of $549.42. The firm has a market capitalization of $201.53 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.91 and a beta of 1.39. The Goldman Sachs Group, Inc. has a 52 week low of $375.20 and a 52 week high of $663.87.

The Goldman Sachs Group (NYSE:GS) last posted 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 company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The Goldman Sachs Group’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.48 earnings per share. On average, analysts predict 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

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.