Provence Wealth Management Group Has $277,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Provence Wealth Management Group lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 719 shares of the investment management company’s stock after purchasing an additional 52 shares during the period. Provence Wealth Management Group’s holdings in The Goldman Sachs Group were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley increased its position in shares of The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after buying an additional 412,383 shares in the last quarter. Fisher Asset Management LLC raised its holdings in The Goldman Sachs Group by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after buying an additional 152,474 shares during the period. Northern Trust Corp lifted its stake in The Goldman Sachs Group by 3.2% in the third quarter. Northern Trust Corp now owns 3,339,851 shares of the investment management company’s stock valued at $1,080,676,000 after buying an additional 104,424 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of The Goldman Sachs Group by 6.1% in the third quarter. Invesco Ltd. now owns 2,792,239 shares of the investment management company’s stock valued at $903,485,000 after buying an additional 159,512 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of The Goldman Sachs Group by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,848,113 shares of the investment management company’s stock worth $597,994,000 after acquiring an additional 19,920 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the sale, the treasurer now directly owns 18,408 shares in the company, valued at $7,190,901.12. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,330 shares of company stock valued at $11,713,578. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded up $5.61 during trading on Friday, reaching $438.18. 2,406,445 shares of the stock were exchanged, compared to its average volume of 2,599,859. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $442.30. The stock has a 50-day moving average price of $404.59 and a 200-day moving average price of $374.23. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm has a market cap of $142.20 billion, a PE ratio of 17.11, a PEG ratio of 1.36 and a beta of 1.40.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.79 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 36.07 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Analysts Set New Price Targets

GS has been the subject of a number of research analyst reports. Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. UBS Group lifted their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods upped their price target 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. Royal Bank of Canada lifted their price objective on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday, April 16th. Finally, Oppenheimer increased their target price on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the stock an “outperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $437.04.

The Goldman Sachs Group Company 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.