Lorne Steinberg Wealth Management Inc. Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Lorne Steinberg Wealth Management Inc. lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,695 shares of the investment management company’s stock after selling 31 shares during the period. The Goldman Sachs Group makes up 2.8% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 9th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in The Goldman Sachs Group were worth $9,560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GS. Asset Management One Co. Ltd. grew its holdings in shares of The Goldman Sachs Group by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock worth $129,144,000 after purchasing an additional 5,541 shares during the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of The Goldman Sachs Group by 8.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock worth $21,934,000 after purchasing an additional 2,863 shares during the last quarter. Park Edge Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $703,000. Nordea Investment Management AB grew its holdings in shares of The Goldman Sachs Group by 30.3% in the 4th quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock worth $122,453,000 after purchasing an additional 49,710 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after purchasing an additional 161,133 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $671.44 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 1 year low of $380.85 and a 1 year high of $672.19. The company has a market cap of $208.45 billion, a PE ratio of 16.56, a PEG ratio of 0.91 and a beta of 1.39. The company’s 50-day moving average is $608.24 and its two-hundred day moving average is $555.16.

The Goldman Sachs Group (NYSE:GS) last released its 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 Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. During the same period in the prior year, the company posted $5.48 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s payout ratio is 29.59%.

Insider Buying and Selling

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now owns 6,455 shares in the company, valued at $4,047,349.55. This trade represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $19,692,543 in the last 90 days. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GS has been the topic of several analyst reports. HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Barclays upped their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped 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, January 16th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.06.

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.