Redmont Wealth Advisors LLC Invests $201,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Redmont Wealth Advisors LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 520 shares of the investment management company’s stock, valued at approximately $201,000.

A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $759,531,000. Morgan Stanley boosted its holdings in The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after acquiring an additional 1,696,350 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in The Goldman Sachs Group by 168,772.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after purchasing an additional 1,243,852 shares during the period. Congress Wealth Management LLC DE increased its position in shares of The Goldman Sachs Group by 27,076.5% during the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after acquiring an additional 650,918 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in The Goldman Sachs Group by 1,791.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 515,358 shares of the investment management company’s stock valued at $168,579,000 after buying an additional 488,109 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the transaction, the insider now owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,907 shares of company stock worth $13,950,851. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GS. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Oppenheimer boosted their price objective on The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group boosted their price objective on The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Evercore ISI upped their price target on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $434.93.

The Goldman Sachs Group Stock Performance

GS stock traded up $0.80 during mid-day trading on Friday, reaching $403.91. 1,802,170 shares of the stock traded hands, compared to its average volume of 2,361,053. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $419.20. The business has a 50-day moving average of $396.03 and a two-hundred day moving average of $365.61. The firm has a market capitalization of $131.08 billion, a PE ratio of 15.81, a P/E/G ratio of 1.31 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The business had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same period in the prior year, the firm earned $8.79 earnings per share. The Goldman Sachs Group’s revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 35.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a dividend of $2.75 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The Goldman Sachs Group’s payout ratio is 42.95%.

About The Goldman Sachs Group

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.