Soundwatch Capital LLC Invests $995,000 in The Goldman Sachs Group, Inc. $GS

Soundwatch Capital LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,250 shares of the investment management company’s stock, valued at approximately $995,000. The Goldman Sachs Group accounts for about 0.2% of Soundwatch Capital LLC’s portfolio, making the stock its 14th biggest position.

Several other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of The Goldman Sachs Group during the third quarter worth $26,000. First PREMIER Bank bought a new stake in The Goldman Sachs Group during the 3rd quarter worth about $28,000. Corundum Trust Company INC acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at about $29,000. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $31,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of The Goldman Sachs Group by 100.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock valued at $32,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $929.47 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.65 and a current ratio of 1.13. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $984.70. The company’s 50 day moving average price is $909.26 and its two-hundred day moving average price is $815.94. The company has a market capitalization of $278.78 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.09 and a beta of 1.34.

The Goldman Sachs Group (NYSE:GSGet Free Report) last released its quarterly earnings results on Thursday, January 15th. The investment management company reported $13.55 earnings per share for the quarter, beating the consensus estimate of $11.52 by $2.03. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.19%. The company had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the prior year, the company earned $11.95 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The ex-dividend date is Monday, March 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 31.20%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 272 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $938.92, for a total transaction of $255,386.24. Following the completion of the transaction, the chief executive officer owned 125,527 shares of the company’s stock, valued at $117,859,810.84. This represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathryn H. Ruemmler sold 9,589 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $927.51, for a total transaction of $8,893,893.39. Following the completion of the sale, the insider owned 18,533 shares in the company, valued at $17,189,542.83. This trade represents a 34.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 87,513 shares of company stock valued at $83,718,401 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GS shares. BNP Paribas Exane increased their price objective on shares of The Goldman Sachs Group from $775.00 to $970.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Daiwa Securities Group increased their price target on The Goldman Sachs Group from $927.00 to $940.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Zacks Research raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Royal Bank Of Canada upped their price objective on The Goldman Sachs Group from $900.00 to $1,030.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. Finally, Autonomous Res reduced their target price on The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $907.43.

Read Our Latest Stock Analysis on The Goldman Sachs Group

About The Goldman Sachs Group

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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