a16z Perennial Management L.P. Takes Position in The Goldman Sachs Group, Inc. $GS

a16z Perennial Management L.P. acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,276 shares of the investment management company’s stock, valued at approximately $1,016,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in The Goldman Sachs Group in the third quarter worth approximately $26,000. First PREMIER Bank bought a new position in shares of The Goldman Sachs Group in the 3rd quarter worth $28,000. Corundum Trust Company INC purchased a new stake in shares of The Goldman Sachs Group during the 3rd quarter worth $29,000. Clearstead Trust LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at about $31,000. Finally, Elevation Wealth Partners LLC grew its stake in The Goldman Sachs Group by 100.0% in the third quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock valued at $32,000 after purchasing an additional 20 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Activity at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 9,589 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the completion of the transaction, the insider owned 18,533 shares of the company’s stock, valued at $17,189,542.83. This trade represents a 34.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Viniar sold 45,000 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $965.33, for a total transaction of $43,439,850.00. Following the transaction, the director owned 555,000 shares of the company’s stock, valued at $535,758,150. This represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 87,513 shares of company stock worth $83,718,401 in the last ninety days. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

NYSE GS opened at $929.47 on Friday. The company has a market cap of $278.78 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.09 and a beta of 1.34. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65. The stock’s fifty day moving average price is $909.26 and its 200 day moving average price is $815.94. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $984.70.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, beating the consensus estimate of $11.52 by $2.03. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the previous year, the business earned $11.95 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 2nd will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $18.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The Goldman Sachs Group’s payout ratio is 31.20%.

Analysts Set New Price Targets

GS has been the topic of a number of recent analyst reports. UBS Group restated a “neutral” rating and issued a $990.00 price target on shares of The Goldman Sachs Group in a report on Wednesday. Bank of America raised their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Rothschild & Co Redburn upped their price target on The Goldman Sachs Group from $608.00 to $748.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Jefferies Financial Group increased their price objective on The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $750.00 to $775.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus target price of $907.43.

Check Out Our Latest Stock Analysis on GS

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The Goldman Sachs Group Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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