Grove Bank & Trust Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Grove Bank & Trust trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,575 shares of the investment management company’s stock after selling 187 shares during the period. Grove Bank & Trust’s holdings in The Goldman Sachs Group were worth $902,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Procyon Advisors LLC grew its stake in shares of The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after buying an additional 43 shares during the last quarter. Brookstone Capital Management raised its position in The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in The Goldman Sachs Group during the 2nd quarter valued at about $5,529,000. Franklin Street Advisors Inc. NC raised its holdings in shares of The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after purchasing an additional 2,863 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in The Goldman Sachs Group by 30.3% during the 4th quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock valued at $122,453,000 after buying an additional 49,710 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GS shares. Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup raised their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their target price for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Morgan Stanley increased their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Barclays boosted their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $589.19.

The Goldman Sachs Group Trading Up 2.3 %

Shares of NYSE:GS opened at $626.84 on Monday. The Goldman Sachs Group, Inc. has a 52-week low of $372.07 and a 52-week high of $627.00. The business has a 50-day moving average price of $587.22 and a 200-day moving average price of $530.29. 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 stock has a market cap of $196.77 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.66 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.48 earnings per share. Equities analysts predict that The Goldman Sachs Group, Inc. will post 37.24 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,940 shares of company stock worth $12,656,179 in the last three months. 0.57% of the stock is owned by corporate insiders.

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.