Convergence Financial LLC Raises Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Convergence Financial LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,163 shares of the investment management company’s stock after purchasing an additional 42 shares during the period. Convergence Financial LLC’s holdings in The Goldman Sachs Group were worth $1,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephens Consulting LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth about $26,000. Asset Planning Inc bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Whipplewood Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in shares of The Goldman Sachs Group during the third quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP purchased a new stake in The Goldman Sachs Group in the third quarter worth $38,000. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GS shares. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $680.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley increased their target price on The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $593.56.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $618.04 on Thursday. The firm has a market cap of $192.85 billion, a P/E ratio of 15.24, a PEG ratio of 0.89 and a beta of 1.39. The Goldman Sachs Group, Inc. has a twelve month low of $381.42 and a twelve month high of $672.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a 50 day moving average of $614.54 and a 200 day moving average of $561.19.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same quarter in the previous year, the business earned $5.48 earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s payout ratio is presently 29.59%.

Insider Transactions at The Goldman Sachs Group

In other news, Treasurer Carey Halio sold 3,640 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $636.74, for a total transaction of $2,317,733.60. Following the transaction, the treasurer now directly owns 4,552 shares of the company’s stock, valued at $2,898,440.48. This represents a 44.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alex S. Golten sold 5,208 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares of the company’s stock, valued at $2,255,506.25. The trade was a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock worth $19,692,543 over the last three months. 0.57% of the stock is currently owned by company insiders.

The Goldman Sachs Group 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.