Bessemer Group Inc. Has $10.65 Million Stake in The Goldman Sachs Group, Inc. $GS

Bessemer Group Inc. grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,369 shares of the investment management company’s stock after acquiring an additional 1,545 shares during the quarter. Bessemer Group Inc.’s holdings in The Goldman Sachs Group were worth $10,647,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in The Goldman Sachs Group in the third quarter valued at approximately $26,000. First PREMIER Bank bought a new stake in The Goldman Sachs Group in the 3rd quarter valued at $28,000. Corundum Trust Company INC acquired a new position in The Goldman Sachs Group in the 3rd quarter worth $29,000. Elevation Wealth Partners LLC increased its holdings in The Goldman Sachs Group by 100.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after purchasing an additional 20 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at about $31,000. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 272 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $938.92, for a total transaction of $255,386.24. Following the completion of the sale, the chief executive officer owned 125,527 shares of the company’s stock, valued at $117,859,810.84. This trade represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 9,589 shares of The Goldman Sachs Group stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the transaction, the insider directly owned 18,533 shares of the company’s stock, valued at approximately $17,189,542.83. This trade represents a 34.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 87,513 shares of company stock valued at $83,718,401. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GS shares. JPMorgan Chase & Co. upped their price objective on The Goldman Sachs Group from $750.00 to $775.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $980.00 to $985.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. Argus boosted their price objective on shares of The Goldman Sachs Group from $863.00 to $1,066.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Royal Bank Of Canada increased their target price on shares of The Goldman Sachs Group from $900.00 to $1,030.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Finally, Bank of America lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $907.43.

Check Out Our Latest Stock Report on The Goldman Sachs Group

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The Goldman Sachs Group Price Performance

Shares of GS opened at $929.47 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.29. The company’s fifty day simple moving average is $909.26 and its 200 day simple moving average 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 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 Goldman Sachs Group (NYSE:GSGet Free Report) last announced its quarterly earnings data on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $2.03. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.30 billion. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.19%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $11.95 EPS. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

About The Goldman Sachs Group

(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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