Convergence Investment Partners LLC Has $1.74 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Convergence Investment Partners LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 4,519 shares of the investment management company’s stock after selling 165 shares during the quarter. Convergence Investment Partners LLC’s holdings in The Goldman Sachs Group were worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Albert D Mason Inc. boosted its stake in shares of The Goldman Sachs Group by 4.3% during the fourth quarter. Albert D Mason Inc. now owns 662 shares of the investment management company’s stock valued at $255,000 after purchasing an additional 27 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 1.4% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,970 shares of the investment management company’s stock worth $760,000 after acquiring an additional 28 shares during the period. Avitas Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 0.7% in the fourth quarter. Avitas Wealth Management LLC now owns 4,435 shares of the investment management company’s stock worth $1,711,000 after acquiring an additional 29 shares during the period. Addison Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 7.5% in the fourth quarter. Addison Advisors LLC now owns 414 shares of the investment management company’s stock worth $160,000 after acquiring an additional 29 shares during the period. Finally, Samalin Investment Counsel LLC lifted its stake in shares of The Goldman Sachs Group by 3.5% in the third quarter. Samalin Investment Counsel LLC now owns 894 shares of the investment management company’s stock worth $289,000 after acquiring an additional 30 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE:GS traded up $7.52 during trading on Friday, reaching $427.57. The company’s stock had a trading volume of 2,322,674 shares, compared to its average volume of 2,404,007. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $428.53. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The firm has a 50 day moving average of $400.27 and a 200-day moving average of $370.50. The firm has a market cap of $138.76 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same quarter in the prior year, the firm earned $8.79 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts expect that The Goldman Sachs Group, Inc. will post 35.86 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.57%. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

Insider Activity

In related news, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the sale, the treasurer now owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction dated 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 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 the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the firm’s stock in a transaction dated 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 sale, the treasurer now directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a research note on Tuesday, April 16th. Bank of America boosted their price target on The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer boosted their price target on The Goldman Sachs Group from $446.00 to $479.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Edward Jones assumed coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating for the company. Finally, Barclays boosted their price objective on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $434.93.

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.