Advisors Asset Management Inc. Purchases 3,305 Shares of The Goldman Sachs Group, Inc. $GS

Advisors Asset Management Inc. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 12.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,399 shares of the investment management company’s stock after purchasing an additional 3,305 shares during the period. Advisors Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $23,412,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in The Goldman Sachs Group in the 3rd quarter valued at about $26,000. First PREMIER Bank bought a new stake in shares of The Goldman Sachs Group during the third quarter valued at approximately $28,000. Corundum Trust Company INC acquired a new stake in shares of The Goldman Sachs Group in the third quarter valued at approximately $29,000. Clearstead Trust LLC bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $31,000. Finally, Elevation Wealth Partners LLC raised its position in The Goldman Sachs Group by 100.0% in 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 during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In related news, Director David A. Viniar sold 19,796 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $964.27, for a total value of $19,088,688.92. Following the sale, the director owned 103,390 shares in the company, valued at approximately $99,695,875.30. This represents a 16.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Carey Halio sold 2,846 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $927.17, for a total transaction of $2,638,725.82. Following the completion of the transaction, the treasurer directly owned 2,017 shares in the company, valued at $1,870,101.89. The trade was a 58.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 87,513 shares of company stock valued at $83,718,401. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus lifted their target price on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Bank of America lifted their price objective on The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Monday, December 22nd. Autonomous Res lowered their price target on shares of The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Finally, BNP Paribas Exane boosted their price target on shares of The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $916.86.

View Our Latest Stock Report on The Goldman Sachs Group

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

The Goldman Sachs Group Trading Up 0.5%

GS opened at $948.40 on Wednesday. The stock has a market capitalization of $284.45 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.16 and a beta of 1.34. 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 Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $984.70. The firm’s fifty day simple moving average is $914.60 and its 200 day simple moving average is $820.58.

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

The Goldman Sachs Group Increases Dividend

The company 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. This represents a $18.00 annualized dividend and a yield of 1.9%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The ex-dividend date of this dividend is Monday, March 2nd. The Goldman Sachs Group’s 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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