Hoey Investments Inc. Acquires 6,263 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Hoey Investments Inc. raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 224.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,054 shares of the investment management company’s stock after purchasing an additional 6,263 shares during the quarter. The Goldman Sachs Group accounts for approximately 0.9% of Hoey Investments Inc.’s investment portfolio, making the stock its 12th largest holding. Hoey Investments Inc.’s holdings in The Goldman Sachs Group were worth $5,185,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its holdings in The Goldman Sachs Group by 2.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock worth $129,144,000 after purchasing an additional 5,541 shares during the period. Erste Asset Management GmbH grew its position in shares of The Goldman Sachs Group by 5.9% during the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock worth $3,309,000 after buying an additional 320 shares in the last quarter. Franklin Street Advisors Inc. NC increased its stake in shares of The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after buying an additional 2,863 shares during the period. Atlas Legacy Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $356,000. Finally, Park Edge Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $703,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 completion of the transaction, the chief accounting officer now directly owns 6,455 shares in the company, valued at $4,047,349.55. The trade was a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin R. Johnson purchased 2,400 shares of the business’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the transaction, the director now directly 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. In the last quarter, insiders have sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Trading Down 2.8 %

NYSE GS opened at $543.04 on Monday. The Goldman Sachs Group, Inc. has a 12-month low of $387.12 and a 12-month high of $672.19. The company has a fifty day simple moving average of $608.15 and a two-hundred day simple moving average of $572.36. 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 stock has a market cap of $169.45 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.30% and a net margin of 11.32%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $5.48 EPS. On average, analysts forecast 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 was paid on Friday, March 28th. Investors of record on Friday, February 28th were given a $3.00 dividend. The ex-dividend date was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Analysts Set New Price Targets

GS has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup cut their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Barclays upped their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, UBS Group upped their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $590.60.

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.